Free Partnership Agreement Template
A partnership agreement sets the rules among two or more people who run a business together, covering ownership, money, management, and what happens when a partner joins or leaves. This free template records each partner's contribution and share of profits, how decisions get made, and how the partnership can be wound up. Enter your partners and terms to generate a comprehensive, print-ready agreement.
Built in your browser — nothing you type is stored unless you save it to your account.
We're continually improving our extraction and generation. If a file doesn't convert to your expectations, tell us and we'll fix it.
Like this tool? Invite a friend — you each get 10 free conversions.
PARTNERSHIP AGREEMENT
This Partnership Agreement (this "Agreement") of ________________ is entered into and effective as of ________________ by and among the partners identified below (each a "Partner" and together the "Partners").
1. FORMATION AND NAME. The Partners form a general partnership under the name ________________ (the "Partnership") under the laws of the State of ________________, beginning on ________________. The Partners shall file any registrations required by state or local law.
2. BUSINESS PURPOSE AND OFFICE. The purpose of the Partnership is to carry on the following business: ________________, and any activity reasonably related to it. The principal office of the Partnership is ________________.
3. PARTNERS AND OWNERSHIP. The Partners and their respective ownership interests in the Partnership are: ________________. These interests govern voting and the sharing of profits and losses except where this Agreement states otherwise.
4. CAPITAL CONTRIBUTIONS. Each Partner has contributed capital to the Partnership as follows: ________________. No Partner is obligated to contribute additional capital without the written consent of all Partners, and no Partner is entitled to interest on a capital contribution.
5. PROFITS, LOSSES, AND DISTRIBUTIONS. Profits and losses shall be shared, and distributions made, as follows: ________________. Distributions may not be made if they would leave the Partnership unable to pay its debts as they come due.
6. MANAGEMENT AND VOTING. The Partnership shall be ________________. Decisions in the ordinary course of business may be made by the managing party or by majority vote of ownership interests, while decisions outside the ordinary course, including borrowing money, selling major assets, or admitting a new Partner, require the unanimous consent of the Partners.
7. BOOKS AND RECORDS. The Partnership shall keep accurate books and records at its principal office. Each Partner may inspect them at any reasonable time. The Partnership's fiscal year and accounting method shall be as the Partners agree, and each Partner shall receive the information needed to prepare tax returns.
8. BANKING. The Partnership shall maintain its funds in accounts in the Partnership's name. Withdrawals and checks shall require the signatures the Partners designate in writing.
9. PARTNER DUTIES AND RESTRICTIONS. Each Partner shall devote the time and attention reasonably needed for the business, act in good faith and in the best interests of the Partnership, and account to the Partnership for any benefit derived from its business. No Partner shall engage in a competing business or pledge Partnership credit for personal purposes without the consent of the other Partners.
10. ADMISSION AND WITHDRAWAL OF PARTNERS. A new Partner may be admitted only with the unanimous written consent of the existing Partners and on terms they approve. A Partner may withdraw by giving written notice to the other Partners. On withdrawal, death, or incapacity of a Partner, the remaining Partners may continue the business and purchase the departing Partner's interest at a value determined under this Agreement or, if none, at fair value.
11. DISSOLUTION AND WINDING UP. The Partnership may be dissolved by the written agreement of the Partners or as required by law. On dissolution, the assets shall be applied first to pay creditors, then to repay Partners' capital contributions, and finally to distribute any remaining balance to the Partners in proportion to their interests.
12. GOVERNING LAW. This Agreement is governed by the laws of the State of ________________. If any provision is found unenforceable, the remaining provisions stay in full effect. This Agreement is the entire agreement among the Partners regarding the Partnership and may be changed only in writing signed by all Partners.
This is a general template and not legal advice. Partnership laws, filing requirements, and each Partner's exposure to business debts vary by state, so review your state's requirements or have an attorney review this Agreement before use.
How the Partnership Agreement converter works
Upload the legal document
Drag in a Partnership Agreement PDF or image — no account, no setup.
We read and extract
Every line item becomes a structured row — the fields you'd otherwise type by hand.
Download your data
CSV free, or Excel and batches with Pro.
Questions
Are these documents legally valid?+
These are professionally structured templates using standard clause language. Whether a completed document is legally binding depends on your state's requirements, proper signing (and notarization or witnesses where required), and your specific situation. For anything high-stakes, have an attorney review it. Nothing here is legal advice.
Is it really free?+
Yes. Filling in a document, previewing it, printing it, and saving it as a PDF are free with no signup. A free account saves your documents; Pro adds Word and Excel export and unlimited saved documents.
Do you store what I enter?+
No. The document is generated in your browser. Nothing you type is sent to our servers unless you choose to save it to an account, and saved documents can be deleted anytime.
Can I edit the document after generating it?+
Yes. Every field stays editable, and you can regenerate as many times as you like. Print or save the final version as a PDF when it looks right.
Will this hold up if it needs to be signed or notarized?+
The template includes signature lines. Some documents need witnesses or a notary to be enforceable in your state. Check your state's requirements before signing, and use a notary where one is required.