The partnership contract can be modified after written and unanimous agreement of all partners in order to welcome new partners. The name of the partnership may be changed if, after written and unanimous agreement of all current partners, a new partner is added to the partnership. Before signing an agreement with your partners, make sure you understand the pros and cons of a partnership. An alternative business structure to a partnership is a joint venture that requires a joint venture agreement. Without this agreement, your state`s standard partnership rules will apply. For example, if you don`t describe in detail what happens when a member leaves or dies, the state can automatically dissolve your partnership under its laws. .