Running a business which has multiple owners without a business partnership agreement is kind of like driving a car without insurance. There’s nothing to protect you if something goes wrong. That gets at the main purpose that a business partnership agreement serves
Dispute resolution: Every relationship has disagreements, and this is especially true in business relationships where lots of financial, legal, and business decisions have to be made. A carefully crafted business partnership agreement allows you to outline how disputes are going to be handled ahead of time instead of in the heat of the moment. This prevents the friction and expenses associated with legal action.
