Partnership Agreement
Create a Texas-compliant Partnership Agreement for your PT clinic. Secure your practice with clauses on Medicare billing, HIPAA, and Texas Business & Commerce Code.
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Building a rehabilitation practice in Texas requires more than just shared clinical expertise; it requires a robust legal foundation that addresses the unique risks of the physical therapy industry.... Read more
Building a rehabilitation practice in Texas requires more than just shared clinical expertise; it requires a robust legal foundation that addresses the unique risks of the physical therapy industry. From managing potential patient injury claims and license revocation risks to navigating the Texas Business and Commerce Code, our Partnership Agreement is tailored for Texas PTs. It ensures your practice is protected under the Texas Physical Therapy Practice Act, establishes clear Profit and Loss Sharing to prevent state default rules, and includes essential Texas-specific non-compete language under Tex. Bus. & Com. Code § 15.50. Protect your functional assessment modalities and secure your business future with a contract designed for rehabilitative excellence.
Beyond the standard partnership agreement sections, this template adds fields specific to Physical Therapist:
A Partnership Agreement legally establishes the rights, responsibilities, and obligations of each partner involved in a business partnership. Its core purpose is to detail how the partnership will operate, distribute profits and losses, and outline procedures for resolving disputes and handling eventualities such as withdrawal or death of a partner.
Patient injury claims
Liability waivers and informed consent forms detail risks associated with treatment, reducing the likelihood of successful negligent claims.
License revocation due to malpractice or ethical violations
Strict adherence to the code of ethics and maintaining comprehensive records/documentation to support care decisions.
For this partnership agreement to be legally valid:
Common mistakes to avoid:
Under Tex. Bus. & Com. Code § 15.50, non-compete agreements in Texas must be ancillary to an otherwise enforceable agreement. This partnership document includes specialized language to ensure that restrictive covenants are enforceable and reasonable in geographic scope, specifically tailored for the physical therapy competitive landscape.
The agreement includes a 'Withdrawal or Death of Partner' clause that specifically triggers in the event of license revocation by the Texas Board of Physical Therapy Examiners. This protects the clinic's ability to continue Medicare billing and insurance reimbursement without interruption by providing a structured buyout or dissolution process.
Without a written Profit and Loss Sharing clause, Texas default rules may apply equal distribution regardless of capital contribution. This agreement allows you to specify exact percentages based on initial contributions—whether property, labor, or cash—ensuring compliance with the Texas Business and Commerce Code.
Yes. The Management and Control sections require all partners to adhere to HIPAA and the Texas Business & Commerce Code regarding the protection and disposal of business and patient records, mitigating liabilities related to PHI breaches.
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