Partnership Agreement Template
Partnership Agreement
8 sections · 12 fields to fill · free, nothing uploaded
PARTNERSHIP AGREEMENT
Date:
Between:
Partner 1:
Address:
AND
Partner 2:
Address:
1. PARTNERSHIP FORMATION
The parties agree to form a partnership under the name "" for the purpose of .
2. TERM
The partnership shall commence on and continue until dissolved by mutual agreement or as provided herein.
3. CAPITAL CONTRIBUTIONS
- Partner 1 shall contribute:
- Partner 2 shall contribute:
4. PROFIT AND LOSS SHARING
Profits and losses shall be shared as follows:
- Partner 1: %
- Partner 2: %
5. MANAGEMENT AND DUTIES
- Both partners shall have equal rights in management unless otherwise agreed
- Major decisions require unanimous consent
- Each partner shall devote to the partnership business
6. DECISION MAKING
The following matters require unanimous consent:
- Admission of new partners
- Sale or purchase of partnership property
- Loans or borrowing on behalf of the partnership
- Major business decisions affecting partnership direction
7. WITHDRAWAL AND DISSOLUTION
- A partner may withdraw with written notice
- Upon withdrawal or dissolution, assets shall be distributed according to capital account balances
- The partnership shall dissolve upon mutual agreement or death/incapacity of a partner
8. DISPUTE RESOLUTION
Any disputes shall first be attempted to be resolved through mediation before pursuing other legal remedies.
SIGNATURES:
Partner 1:
Signature: _______________________
Name:
Date: _______________________
Partner 2:
Signature: _______________________
Name:
Date: _______________________
Runs in your browser — nothing is uploadedNo signup, no email, no watermarkYour answers are saved in this browser only
What is a Partnership Agreement?
A Partnership Agreement — also called a business partnership contract — is a business and commercial document used when two businesses, or a business and an individual, need the terms of a commercial relationship written down before money or information changes hands. In short: business partnership terms.
It is typically signed by founders, freelancers, agency owners, suppliers and anyone negotiating with a company larger than their own. Commercial agreements bind once both parties sign and something of value is exchanged. Courts read them against what the words actually say, not what either side meant — which is why vague scope and undefined payment triggers cause most commercial disputes.
When you need one
- You are about to business partnership terms and want the terms recorded before anyone relies on them.
- The other side has proposed a partnership agreement and you want to see what a balanced version looks like first.
- A previous arrangement was verbal, and something has now happened that makes writing it down urgent.
- You need a starting point you can adapt rather than a blank page — the structure matters more than the prose.
What this Partnership Agreement template includes
The template is structured around 8 sections. Each one exists for a reason — if you delete one, delete it deliberately.
- 01Partnership Formation
- 02Term
- 03Capital Contributions
- 04Profit And Loss Sharing
- 05Management And Duties
- 06Decision Making
- 07Withdrawal And Dissolution
- 08Dispute Resolution
Information you will need
Gather these before you start. Every one of them appears in the finished document, and a missing value is the most common reason a self-drafted partnership agreement fails to do its job.
- Partner 1 Name
- First partner full name
- Partner 2 Name
- Second partner full name
- Business Name
- Partnership business name
- Capital Contribution
- Initial investment amount
- Profit Split Ratio
- e.g., 50-50, 60-40
How to write a Partnership Agreement
- 1
Read the full template
Read the complete Partnership Agreement on this page before you use it, so you know what every clause commits you to.
- 2
Gather your details
Collect the names, addresses, dates and amounts listed in the "What you will need" section — every square-bracketed placeholder needs a real value.
- 3
Fill in the blanks on this page
Type your answers into the form beside the template and they are written into every clause that uses them as you go. Nothing is uploaded — the document is assembled inside your own browser.
- 4
Download the finished document
Download your completed Partnership Agreement as a PDF or an editable Word file, or copy the text. There is no signup and no watermark.
- 5
Sign and store it
Sign it — electronically with the free Sign PDF tool, or in ink where the document type requires it — and give every party a copy.
Mistakes to avoid
Leaving scope open-ended
If the document does not say precisely what is being delivered and what is excluded, every later disagreement becomes a negotiation you already paid for.
No payment trigger
State what event makes an invoice due — delivery, acceptance, a date — and what happens when payment is late.
Uncapped liability
Without a liability cap you are exposed to losses far beyond the value of the deal. A cap at fees paid in the last 12 months is the common commercial position.
Silent on termination
Say how either side ends the arrangement, with how much notice, and what survives afterwards.
Jurisdiction note. Commercial terms interact with local consumer, competition and unfair-contract-terms law. High-value or cross-border deals warrant a lawyer. This template is general-purpose information, not legal advice.
Partnership Agreement FAQs
Is this Partnership Agreement template free to download?
Yes. The complete text is published on this page — no email required. Fill in the blanks on the page, then copy it or download it as a PDF, Word (.docx) or plain-text file. There is no watermark and no usage limit.
Can I fill in this Partnership Agreement template online?
Yes. Every square-bracketed blank in the template above is an editable field. Type your answer once and it is written into every clause that uses it, and the document beside the form updates as you type. When you are done, download the completed PDF or Word file. It all runs inside your browser — the document is never uploaded, and your answers are saved only in this browser so you can come back and finish later.
What information do I need to complete a Partnership Agreement?
At minimum: partner 1 name, partner 2 name, business name, capital contribution. The form on this page lists every blank the document contains and counts how many are still empty. Every placeholder in [square brackets] needs replacing before the document is signed — an unfilled bracket is the most common defect in a self-drafted document.
What should a Partnership Agreement include?
This template is structured around 8 sections: partnership formation, term, capital contributions, profit and loss sharing, management and duties and others. Those are the provisions that make the document do its job; anything you delete, delete deliberately.
Is a Partnership Agreement legally binding?
Commercial agreements bind once both parties sign and something of value is exchanged. Courts read them against what the words actually say, not what either side meant — which is why vague scope and undefined payment triggers cause most commercial disputes. Commercial terms interact with local consumer, competition and unfair-contract-terms law. High-value or cross-border deals warrant a lawyer.
Can I edit this Partnership Agreement template?
Yes, in three ways. Fill in the blanks on this page and download the result; or download the Word version and rewrite it in Word, Pages or Google Docs; or open it in the LegalDraft AI app, where the AI can rewrite any individual clause to be stricter, simpler or more balanced and review the finished document for risk before you sign.
Do I need a lawyer for a Partnership Agreement?
Commercial terms interact with local consumer, competition and unfair-contract-terms law. High-value or cross-border deals warrant a lawyer. For routine, low-value arrangements a carefully completed template is usually proportionate. The larger the sum, the more one-sided the terms, or the more the document depends on local statute, the stronger the case for professional review.
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