What is a Partnership Agreement?
A Partnership Agreement is a contract that is between two (or more) business partners. Business partners leverage the agreement to designate roles, responsibilities, rights, loss, and profit distribution. The agreement also sets the rules (like withdrawing from the partnership, required capital contributions, etc). The Business Planning Guru’s partnership agreement template lets you create a general partnership agreement that can be used in a variety of circumstances.
Who needs a Partnership Agreement?
Any business with two or more people that run a for-profit business together (which includes family and friends), should have a Partnership Agreement.