Who can use this Partnership Agreement?
Any two individuals who want to start a new partnership or formalise an existing one can use this partnership agreement
What is this partnership agreement for?
It sets out the ownership, profit sharing, decision making and management arrangements for the business of the partnership
What are the main issues?
- ownership, capital and profit/loss shares as well as drawing rights – i.e. the amount each partner can take out of the business on a regular basis
- decision-making: with a two-partner business this usually means all major decisions (and some less important ones) are made by both partners
- practical matters such as holiday, sick pay, maternity leave etc. – the partners are not employees so these issues need to be spelt out in the partnership agreement
- introducing new partners and the retirement/departure of a partner
- restrictions on competition
What detailed terms does the agreement contain?
This eleven page document contains 21 clauses covering
For more information on each of these sections, see our Explanatory Notes which you will receive when you download the document from our website.
If you have any questions about a contract and/or want to see these Notes before you buy, please let us know by using our contact form
For information on signing documents see our Contract Signing page
When I download the document can I change it and/or use it more than once?
Yes, all ContractStore’s templates are in MS Word and you can use the contract on more than one project. For more information, watch the video on this page of our website or see our FAQs
ContractStore supplies templates and is not a law firm. But all our templates are written by experienced lawyers so we can arrange legal assistance for customers who need special terms in one of our documents or a bespoke template. . For more information see our Legal Services page.
And if you want to contact us see our Contacts page.
If you have any questions about a contract and/or want to see the Explanatory Notes before you buy, please let us know by using our contact form
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