Partnership Agreement
Partnership Agreement Generator — Define Roles, Protect Relationships
Create a comprehensive partnership agreement that covers profit sharing, decision-making, capital contributions, and exit provisions. Build on solid legal ground.
"Every clause grounded in statute. Every term verified against local law."
What is a Partnership Agreement?
A partnership agreement is a legally binding contract between two or more individuals or entities who agree to operate a business together. It defines each partner's contributions, responsibilities, profit/loss sharing ratios, decision-making authority, and what happens when a partner wants to leave or the business dissolves.
Without a partnership agreement, your business defaults to your jurisdiction's partnership statute — which may not reflect what you actually agreed to. Default rules typically split profits equally regardless of contribution, give every partner authority to bind the business, and make each partner personally liable for the other's business debts. That's rarely what partners intend.
Contract.DIY generates partnership agreements that reflect your actual arrangement — whether it's a two-person startup, a professional practice, or a multi-member investment partnership. Define the terms upfront to protect both the business and the relationship.
Key clauses included
Every Partnership Agreement includes all the provisions that matter — no important terms left out.
Capital contributions
Initial and ongoing financial contributions from each partner
Profit and loss distribution
How profits and losses are allocated among partners
Management and voting
Decision-making authority, voting rights, and day-to-day management
Partner duties and restrictions
Fiduciary duties, non-compete, and time commitment
Admission of new partners
Process and terms for bringing in additional partners
Withdrawal and buyout
How a partner exits and how their share is valued and purchased
Dissolution
Conditions that trigger dissolution and wind-down procedures
Dispute resolution
Mediation, arbitration, and deadlock-breaking mechanisms
When do you need a Partnership Agreement?
When starting a business with one or more co-founders or partners
Before investing capital or contributing assets to a shared business venture
When forming a professional practice (law firm, medical practice, accounting firm)
Before any arrangement where multiple parties share profits, losses, and management
When converting an informal business collaboration into a formal partnership
Example clause language
See the quality of contract language generated for your Partnership Agreement.
Profit and Loss Distribution
Net profits and losses of the Partnership shall be allocated among the Partners as follows: [Partner A] — [percentage]%, [Partner B] — [percentage]%. Distributions shall be made [quarterly/annually] unless the Partners unanimously agree otherwise.
Capital Contributions
Each Partner shall contribute the following initial capital: [Partner A] — [amount/description], [Partner B] — [amount/description]. No Partner shall be required to make additional capital contributions without unanimous consent of all Partners.
Withdrawal and Buyout
A withdrawing Partner must provide [number] days' written notice. The remaining Partners shall have the right to purchase the withdrawing Partner's interest at fair market value, determined by [valuation method], payable over [period].
Key Legal Considerations
Real requirements from real jurisdictions — automatically enforced in every contract.
California Partnership Formation
Cal. Corp. Code §§ 16100–16962
Fiduciary duties addressed
Delaware LLC Act Governance
6 Del. C. § 18-1101(b) (LLC); 6 Del. C. § 17-1101(c) (LP)
Certificate of Formation filed or referenced
New York Partnership Formation
NY P'ship Law §§ 1–74, 121-101 through 121-1300
Fiduciary duties addressed
How it works
From blank page to signed contract — in minutes, not days.
Describe your situation
Tell us about the parties involved, what needs to be protected or agreed upon, and any specific requirements for your Partnership Agreement.
Your contract is drafted
A complete, jurisdiction-aware contract with all the right clauses — generated in seconds. Review and edit anything inline.
Download and sign
Export as a polished PDF or Word document. Share it for signature or use your preferred e-signature tool.
Available Jurisdictions
Each jurisdiction adds specific mandatory clauses, compliance checks, and prohibited terms to your contract.
California
8 specific rules
Delaware
17 specific rules
Florida
Standard coverage
Georgia
Standard coverage
Illinois
Standard coverage
Massachusetts
Standard coverage
Michigan
Standard coverage
New York
8 specific rules
North Carolina
Standard coverage
Ohio
Standard coverage
Pennsylvania
Standard coverage
Texas
13 specific rules
United States
14 specific rules
Washington
Standard coverage
European Union
16 specific rules
France
0 specific rules
Germany
0 specific rules
Netherlands
11 specific rules
United Kingdom
13 specific rules
Australia
0 specific rules
Canada
0 specific rules
India
Standard coverage
Japan
Standard coverage
Singapore
Standard coverage
Related Resources
Guides, FAQs, and legal terms to help you understand your contract.
Guides & Articles
Related Contracts
Often used alongside Partnership Agreement agreements.
Service Agreement
Scope of services · Deliverables and acceptance · Payment terms
Non-Disclosure Agreement
Definition of confidential information · Obligations of the receiving party · Duration and term
Licensing Agreement
Grant of license · Licensed property · Territory and field of use
Frequently asked questions
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