Partnership Agreement
A partnership agreement for two people running a business together, covering money, decisions, leaving and disputes. The second partner signs first, then you sign as the first partner.
For the United States, Canada, the United Kingdom and Australia.
The PDF is free to download. Centilio Sign is free to start.
What it covers
The template has 11 parts.
- The business
- Contributions
- Profits, losses and drawings
- Decisions and banking
- Time, attention and competition
- Accounts and records
- New partners
- Leaving the Partnership
- Dissolution
- Disputes
- Governing law and general terms
What you will be asked
Have these details ready. The template needs them before anyone signs.
- What business will the partnership carry on?
- When does the partnership start?
- What is the main business address?
- What are you contributing to the partnership?
- What is your partner contributing?
- What percentage of the profits and losses is yours?
- What percentage goes to your partner?
Who signs
Everyone the template names, and what each one does.
- Second partnerSigns
- First partnerSignsSends it
Where it fits
For a general partnership of two partners. Use the partnership deed for a firm in India, the LLC operating agreement for a US LLC, and the joint venture agreement for a single project between companies.
Before you rely on it
Original Centilio wording, not legal advice. Partnership law differs between countries, states and provinces, including the personal liability of partners and any business name registration, so have a local lawyer check it before you approve it. Ask an adviser whether a limited partnership, an LLC or a company would suit the business better.
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