The form of relationship that does not have a long-term partnership agreement is living together without any formal cohabitation or partnership agreement. In such cases, nothing is regulated by law regarding the relationship, although some institutions (like tax authorities) may treat the couple as partners for certain purposes. This means there is no official or legally binding long-term partnership agreement in place
. In the context of business partnerships, a general partnership can exist without a formal written partnership agreement. However, this is not ideal because without a partnership agreement, the partnership's operation is governed by default state laws, which may not suit the partners' specific needs. This can lead to uncertainties in managing responsibilities, profit sharing, and dispute resolution
. Thus, the key forms of relationships without a long-term partnership agreement include:
- Cohabiting couples without a cohabitation agreement or registered partnership.
- Business partners operating under a general partnership without a formal partnership agreement.
Both scenarios lack a formal, legally binding long-term partnership agreement defining roles, responsibilities, and rights.
