Partnership Agreement

Description

You and your business partner(s) decided to start a general partnership. You negotiated all the important stuff with your business partner(s).

Now, it’s time to get it in writing. A general partnership agreement is like homeowner’s insurance. You don’t buy it expecting your house (or your business) to go up in flames.

But if something happens, you can refer to your written agreement. Long gone are the days of scribbling an agreement on a piece of paper or doing a simple handshake.

Also, using text messages to show there was “an understanding” can get complicated. But it doesn’t have to be complicated.

So, make it easy for yourself. Use a partnership agreement to start a business so that all partners’ expectations are on the same page.

About this template:

This is a simple general partnership agreement template that comes in 2 versions. There is a template that’s made for 2 business partners, and there’s a template for 3 or more business partners.

The 2 Person Partnership agreement is a 50/50 Partnership Agreement. The 3 [or more] Person Partnership Agreement can be edited to split the ownership in several ways, e.g., 60/40 Partnership, 70/30 Partnership, 80/20 Partnership, etc.

Only the 3 [or more] Person Partnership agreement includes a buy-sell agreement. A buy-sell agreement describes what happens to a withdrawing partner’s share. A partner withdraws from the partnership when that partner dies, retires, etc.

Each general partnership contract template can be uploaded to any Word or PDF reader.

You will receive your documents immediately. You can access your documents via the order confirmation page or your email.

*Special instructions: Please download the document(s) immediately. The download link(s) will expire after you download it three (3) times OR after 30 days from your purchase date, whichever happens first.

This template includes: 

• Paragraph(s) that describe how and when investments will be made for starting the business
• Paragraph(s) that describes how to split the profits and losses between partners
• Paragraph(s) that describes how the partnership’s accounting will be handled
• Paragraph(s) that describes how the partnership will be managed
• Paragraph(s) that describe how much time each partner must devote to the business
• Paragraph(s) that describe the partners’ salaries
• Paragraph(s) that describe how and when new partners may be added
• Paragraph(s) that describes any restrictions on transferring a partnership’s ownership
• Paragraph(s) that describe what happens when a partner no longer participates in the business, e.g., retires, dies, etc.
• Paragraph(s) that describes what happens if the partnership goes out of business
• Paragraph(s) that describe how partners will be notified of partnership business
• Paragraph(s) that describe how to handle any “consent” agreements between the partners

What’s included:

Partnership Agreement + Plain-English Guide

• 2 Templates:
  • 4 page General Partnership Agreement template (2 Partners Only) (Word format & Fillable PDF)
  • 6 page General Partnership Agreement template (3+ Partners) (Word format & Fillable PDF)
• C.I.T.E. Guide: the Contract Instructions and Thorough Explanations Guide explains the highlighted fields of the template and provides a Plain-English translation for all the legal terms.

Refunds:

We pride ourselves on delivering the best product possible. And we also stand by our products. So, if for any reason you’re not happy with the purchase, we would love for the opportunity to make it right, even if that means a full refund. We will guarantee a refund if it’s within 14 days of the purchase date. Please visit our Refund Policy for more information.