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question.jpgIn Business Law

What is a statement of partnership?

A statement of partnership is a very simple document created for general partnerships, when the partnership is first being setup, and which is then filed with the state. It basically identifies the existence of the partnership, and notifies the state of the partnership’s existence. Most states do not require partnerships to draft and file a statement of partnership, but suggest you do so. However, you should check your state law to ensure that you are in compliance with its requirements.