Partners are not paid salaries because they are considered to be self-employed. Instead of a salary, they receive distributions from the profits of the business. The future of the partnership business must be explained by explaining the process of admitting new partners. Also, you must mention what will happen if the partner dies or withdraws from the partnership. In the final stage, you need to pick the law which will govern the agreement and get it signed by the relevant authorities. Your partnership may contain different types of partners with different workloads. Some partners are involved in every aspect of the business. If you liked this article, subscribe to my site and Forbes will alert you every time I publish a new post. Buy sell agreements also usually cover partner divorces to prevent a divorcee’s ex-spouse from becoming a business partner.