Partnership Agreement

As a business owner or employed as senior management of a company, you might have the need to extend a business partnership to one or multiple individuals or organizations in context of a business partnership. After accepting business proposals, you need to be enter into a formal partnership.

How do you set up a partnership agreement?

A partnership agreement is a legal document that described the structure of a partnership and the rights, duties, ownership interests and profit shares of the partners. It's not legally required, but highly advisable, to have a well described partnership agreement to avoid conflicts among partners in the future. Download this free agreement example in Word (DOCX).

To avoid conflict and maintain trust between you and your partner(s), make sure to discuss all business goals, the commitment level of each of the partners and salaries prior to signing the agreement.

If you wish to enter into a partnership you can start by letting them know the news. You can also ask for another session which will tell the receiver that you are interested in further continuing the discussions. Writing an effective business letter is a valuable skills that will take you a long way in the future.

Partnership Agreement format

Below are the articles as included in this Partnership Agreement:

1. Partnership Name and Purpose;
2. Place of Business; 
3. Term; 
4. Capital Contributions; 
5. Capital Accounts;
6. Cash Distributions;
7. Banks and Books of Account; 
8. Managing Partners; 
9. Relationship of the Partners; 
10. Waiver of Right to Partition; 
11. Voluntary Termination; 
12. Retirement;
13. Involuntary Withdrawal;
14. Death of a Partner;
15. New Partners; 
16. Prohibition on Transfer; 
17. Entire Agreement; 
18. Controlling Law; 
19. Successors and Assigns; 
20. Signatures.

We provide a ready-made Partnership Agreement that fits your needs! Download this professional Partnership Agreement template now! Are you looking for more business documents, forms, letters, reports, plans and resumes templates? Our website has all these documents and more which will help you in both your professional and private life.

Also have a look at this Partnership Proposal letter template.