Free Sample Partnership Agreement Template
Partnership Agreements are used to formally set out the particulars of a business. This agreement spells out the names of the parties, amount of money to be contributed by each party and each party's role within the business. A Partnership Agreement will provide guidance as to how your business should be run and how any profits will be shared.
Disclaimer:This was not drafted by an attorney & should not be used as a legal document.
This Partnership Agreement ("Agreement") made and effective this ___________ (Date), by and between the following individuals, referred to in this Agreement as the "Partners":
The Partners wish to set forth in this written agreement, the terms and conditions by which they will be governed in this Partnership.
THEREFORE, IN CONSIDERATION of the promises contained in this Agreement, the Partners affirm in writing their association as a partnership in accordance with the following provisions:
1.Name and Place of Business. The name of the partnership shall be called ____________________ (“Partnership"). Its principal place of business shall be _____________, until changed by agreement of the Partners.
2. Purpose. The general purpose of the Partnership shall be to ______________________.
3. Term. The Partnership shall commence as of the date of this Agreement and shall continue until terminated as provided herein.
4.Capital Accounts. The Partners shall make an initial investment of capital, contemporaneously with the execution of this Agreement, as follows:______________________________________.
5. Profits and Losses. Until modified by mutual consent of all the Partners, the profits and losses of the Partnership and all items of income, gain, loss, deduction, or credit shall be shared by the Partners in the following proportions:
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
First Party Second Party