The original Partnership Agreement should outline the value of a partnership interest. For example, this could comprise of cash investments, time and effort, vehicles, office space, furniture, and more.
Often in these agreements, a partner’s interest is equal to their capital contributions. It may be expressed as a percentage of the total capitalized value of the partnership. If the parties cannot agree on the value of the interest, they can conduct an independent appraisal of the contributions at fair market value.