What is a sample partnership agreement?


Quick Answer

A sample partnership agreement is a template that business owners can use to write their own partnership agreements. The sample includes all the mutually agreed-upon elements needed to run the business.

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Full Answer

A partnership agreement details the duties and responsibilities of all the partners in a business. The document lists the assets each partner brings to the business, and it breaks down when and how much each partner will be compensated and what percentages of expenses each partner is responsible to cover. There is also language defining the type of partnership, the business's name and main activity and other pertinent information about the business.

All partners are required to sign the agreement, so it is important that all partners agree to the entire document. The agreement explains how partners can be added or removed and what happens in the event a partner dies or the group decides to dissolve the business.

The partnership agreement is an important part of the business. Sample partnership agreements can be found at local SCORE offices or downloaded from a local bar association website. Working from a sample document can help a business owner include all the elements a partnership business needs to create a thorough and usable agreement.

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