Does partnership require a heter iska

I'm planning a business investment with a jewish partner. Since we already have a contract, do we still need a heter iska? If yes, why?

Having a partnership contract is a good idea. While it sounds like a common sense idea, unfortunately, common sense is not that common. I have encountered instances where people are too trusting of each other, and have neglected to put in place a thorough contract. While things may seem very rosey today, the relationship might someday sour, and "misunderstandings" can arise in the future.

With regard to your question regarding the need for a "heter iska", even if you already have a contract. The answer is, Maybe. Why? Because there could be items in your agreement that may infringe the prohibition of giving or taking "ribbis".

Your question as presented, doesn't reflect enough information to enable an a definitive answer. What is needed is more information about the nature of the investment, and your relationship with the partner.

Who will be investing the capital?

What arrangements have been made for the investor to get back his capital?

Will the work be evenly distributed?

What level of liability/responsibility do the other partners have with regard to the financial obligations of the company?

Does your partnership agreement also include details as to how the assets are to be divided, in the event that the company is eventually dissolved? Partner deceases?

If you feel uncomfortable discussing this in an open forum, you can reach me with full confidentiality at the email provided on my profile page.