If the partners do not enter into a limited partnership agreement, then the relationship between them, and their respective rights, obligations and duties will be unclear. Should a dispute arise between the partners in the future, without a limited partnership agreement, it will be difficult for the parties, a court or other trier of fact to determine the rights, obligations and duties of the parties. This could lead to time-consuming and costly litigation. Typically, a limited partnership agreement will address such topics as identification of the partners, required contributions to the capital of the limited partnership, how the profits of the partnership will be distributed to the partners, how the income and loss of the partnership will be allocated to the partners, dissolution of the limited partnership, restrictions on transfer of partnership interests, etc.