A management committee is elected by a majority of the partners who conduct the operations of the partnership and, by its majority decision, it is empowered to manage all the commercial relations of the partnership, with the exception of those made available exclusively to the partners. Some of the most common reasons why partners may dissolve a partnership are that this agreement allows the partners to enter into a general partnership (« partnership ») in accordance with the laws of the State of New York. Important conclusions: a business partnership agreement should anticipate the future of a company and the current state of the partnership. Let us have an in-depth look at the Partnership Agreement. PandaTip: This section aims to determine who is responsible for the day-to-day operation of the partnership-specific functions. .