What must generally be included in the written agreement of a limited partnership?

In a written agreement of a limited partnership, it is essential to include the distribution of profits and losses. This aspect is fundamental because it outlines how the profits generated by the partnership will be divided among the general partners and limited partners. Clearly specifying this in the agreement helps prevent disputes and ensures that all partners understand their financial rights and responsibilities from the outset.

The written agreement also serves as a legal document that can be referenced if disagreements arise regarding profit distribution, making it crucial for clarity and transparency within the partnership structure. This aspect indeed forms a core part of the partnership's operations and financial planning, reflecting the expectations and agreements of all involved parties related to their returns on investment.

While including partnership goals, names of partners, and the location of the business may be important for a comprehensive agreement, they do not hold the same level of criticality as the distribution of profits and losses, which directly affects the financial interests of the partners involved.