Partnership Agreement

Partnership Agreement


Make sure your business runs smoothly when you enter into a partnership agreement with one or more individuals with a partnership agreement. Avoid potential conflict by preparing a detailed and complete agreement of what is expected of the partners and how the business will be run under the new partnership. This partnership agreement covers essential elements such as who the partners are, their capital contributions, their rights and responsibilities, and what will happen if and when they decide to leave the partnership.

When to use:

when you and one or more other individuals want to create – or have already created – a business in partnership with each other and you want to make clear:

The partners’ capital contributions

How profits are split

How decisions are made

What is expected of the partners

What happens if a partner wants to leave

What this covers:

Who the partners are

Partners’ capital contributions and profit shares

Partners’ duties and entitlements

Management and decision-making

Partners leaving


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