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Partnership Agreement Template

A partnership agreement sets out how two or more owners share profits, duties, and decisions in a jointly run business.

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How to create a partnership agreement

Three steps take you from blank form to signed document.

Open the template

Open our partnership agreement template and see every clause laid out, ready to fill in.

Fill in the agreement

Enter each partner's name, contribution, and share of profits directly in the fields.

Download the agreement

Download the finished partnership agreement as a PDF ready to print and sign.

What is a partnership agreement?

A partnership agreement is a private contract between two or more people who own and run a business together. It records who owns what share, how profits and losses are split, and who has the authority to make decisions. Unlike a corporation's bylaws, it isn't filed with any government body — it exists so partners have a clear reference if a dispute or a change in the business comes up.

Key Takeaways

A partnership agreement names each partner
It records profit shares and duties
Signatures make it count for all

What does a partnership agreement look like?

The document opens by naming the business and each partner, followed by sections on capital contributions, profit and loss splits, and management duties. Later sections cover how new partners are admitted, what happens if one leaves or a buyout is triggered, and how disputes are resolved. It closes with a signature block and the date each partner signs.

What should an partnership agreement include?

A sample partnership agreement typically covers the business name and purpose, each partner's capital contribution, how profits and losses are divided, and who holds decision-making authority. It should also address what happens if a partner wants out, whether through a partnership buyout agreement template clause or a set exit process, and how disagreements between partners get resolved without going to court first.

Does a partnership agreement need to be notarized?

In most cases, a partnership agreement is valid once every partner signs it, with no notary required. Some partners choose to have signatures notarized anyway, particularly for a limited partnership agreement template involving outside investors, since it adds a layer of proof if the agreement is ever challenged. Check your local requirements if the partnership holds real property or significant assets.

Does this template suit different business types?

A simple partnership agreement template works well for two people splitting a small venture, but a larger deal needs more detail. A real estate partnership agreement template, for instance, should spell out how property income and expenses are shared, while a general or limited partnership agreement template covers liability differently depending on each partner's role and exposure to business debts.

Frequently asked questions

You form one by having every partner agree on contributions, profit splits, and responsibilities, then putting those terms in writing. Filling in a printable partnership agreement keeps the process organized, and the document becomes binding once each partner reviews and signs it, so read it carefully before anyone puts pen to paper.

Start with the business name and each partner's details, then add sections for capital contributions, profit and loss shares, and management roles. A partnership agreement form should also cover what happens if a partner leaves. Using a partnership agreement template in Word format lets you adjust wording before saving it as a final PDF.

Yes, partners can amend the agreement later, but changes should be documented in writing and signed by everyone involved, just like the original. Many partnership agreements include a clause explaining how amendments are proposed and approved, which keeps the process fair and avoids one partner making unilateral changes down the line.