Free Partnership Agreement Template
Build your partnership agreement, send it to your partners for signature, and get a legally binding signed PDF back. Free forever, no watermark, with a full audit trail.
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Partnership Agreement
- Partner names and contact details
- Business name and purpose
- Effective date
- Capital contributions per partner
- Ownership percentages
- Profit and loss distribution
What is a Partnership Agreement?
A partnership agreement is a written contract between two or more people who run a business together. It sets out each partner's ownership stake, capital contributions, how profits and losses are split, decision-making rules, and what happens if a partner leaves or the partnership dissolves.
When to use it
- Two or more people are starting a business together and want the terms in writing
- Existing partners want to formalize an arrangement they've been running on a handshake
- You're adding a new partner and need to define their stake and responsibilities
- You want to set clear rules for splitting profits, losses, and management duties
- You need an agreed process for a partner exiting, buying out, or dissolving the business
- Partners want to spell out capital contributions before money changes hands
What's included
This template comes ready with the fields you need:
- Partner names and contact details
- Business name and purpose
- Effective date
- Capital contributions per partner
- Ownership percentages
- Profit and loss distribution
- Management and voting rights
- Withdrawal, buyout, and dissolution terms
- Signature field and date signed
Create & sign your Partnership Agreement online
Set the terms
Fill in each partner's name, capital contribution, and ownership percentage, then set how you'll split profits and losses and who gets a say in day-to-day decisions.
Route it to every signer
Add a signature and date field for every partner and send it out by email or a share link, with sequential or parallel signing so each partner signs from their own device.
File the executed copy
Every partner receives the sealed agreement, and the Certificate of Completion confirms each one signed — so contributions, ownership splits, and decision rights are settled in one verifiable document all partners can reference.
Getting contractor and consulting paperwork signed without friction
Most engagements don't stall on the terms — they stall on the paperwork. The fix is to make signing effortless: send the agreement by email invitation or a share link, and let the other side sign from their phone in minutes. Nobody has to create an account to sign, which removes the single biggest excuse for a contract sitting unsigned in an inbox.
If more than one person needs to sign — the contractor and your own authorized signer, say — set a signing order so the document moves automatically from one to the next, or let everyone sign in parallel when order doesn't matter.
When it completes, each signer receives the sealed PDF, and you keep the Certificate of Completion and audit trail. File it with the engagement so scope, fees, and IP terms are one search away when invoicing questions come up.
Partnership Agreement FAQs
Does the profit split have to match each partner's ownership percentage?
No. By default, many U.S. state partnership laws split profits equally regardless of how much each partner put in, unless your agreement says otherwise. In the agreement you can set whatever split you all agree on — by ownership stake, by capital contributed, or a custom formula — as long as it's written down and everyone signs. This is general information, not legal advice, and the rules vary by jurisdiction.
Are the partners personally responsible for the business's debts?
In a general partnership, usually yes — each partner can be held personally liable for the partnership's debts, and even for obligations another partner takes on for the business. That's a big reason to spell out spending limits and which decisions need everyone's sign-off. If you want to shield your personal assets, that's done through a different structure like an LLC or LLP. This is general information, not a substitute for advice from a lawyer.
What happens if a partner wants to leave, or passes away?
That comes down to what your agreement says. Without clear provisions, default state rules can force the partnership to dissolve or trigger a buyout on terms nobody chose. A solid partnership agreement lays out the exit process, how a departing partner's stake is valued and bought out, and whether the business carries on. It's worth covering death or incapacity too, so a partner's heirs don't automatically become co-owners.
Do we really need a written agreement if we already shook on it?
A partnership can exist legally without one, but then your state's default rules govern everything — usually equal profit splits and an equal say, no matter what each of you contributed. Putting it in writing and signing it lets you set your own terms, and a signed PDF with a Certificate of Completion and tamper-evident audit trail gives every partner a dated record of exactly what was agreed. This is general information, not legal advice.
How does the agreement handle disagreements or a deadlock between partners?
The agreement sets the decision-making rules — which matters need a simple majority, which need a unanimous vote, and how votes are weighted by ownership. For 50/50 partnerships it's smart to add a tie-breaker, like a neutral third party, mediation, or a buy-sell 'shotgun' clause, so a stalemate doesn't freeze the business. What's enforceable varies by state, and this isn't legal advice.
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Create & sign freeReady to send your Partnership Agreement?
Customize it, add signers, and send for signature in minutes — free, with no document watermark. The free plan shows a small, removable 'Made with tuyaform' credit on form and signing pages.