Partnership Agreement Templates

A partnership can exist without any paperwork at all. Two people carrying on business together with a view to profit are usually partners in law, and the partnership statute then decides how profits are shared, who can bind the firm and what happens when a partner leaves. Those default rules were written in the nineteenth century and rarely match what modern partners expect, which is why a written agreement matters.

Each partnership template is written for a named jurisdiction's partnership legislation. It records capital contributions, profit and loss sharing, management and decision-making, banking and authority to sign, admission of new partners, withdrawal, death or disability, buy-out valuation and dissolution. Guidance notes point out where the agreement replaces a statutory default, and shaded fields mark what the partners must decide.

Partners are generally liable for the firm's debts. Discuss liability, insurance and whether a corporation or limited partnership would suit the business better with a lawyer or accountant before signing.