Download Free Partnership Agreement Templates for Different Business Structures

This page offers free partnership agreement templates covering various business structures—including Limited Partnerships, Limited Liability Partnerships (LLPs), and Joint Ventures. Each template is designed to clarify partner roles, profit sharing, liability, and governance, ensuring compliance with U.S. state laws and supporting smooth collaboration in different regions.

Select Partnership Agreement Templates by Type

Please choose the partnership agreement template that best matches your business structure. Each template—whether for a Limited Partnership, Limited Liability Partnership (LLP), or Joint Venture—is tailored to ensure clarity, fairness, and compliance with state laws.

General

  • Partnership Agreement

    Applicable for forming a general partnership, outlining partner roles, profit-sharing, decision-making authority, capital contributions, and dispute resolution mechanisms.

Limited Partnership

  • Limited Partnership Agreement

    A Limited Partnership Agreement sets out the rights and obligations of general and limited partners, including capital contributions, profit distribution, management authority, liability limits, and exit provisions.

Limited Liability Partnership

  • Limited Liability Partnership Agreement

    A Limited Liability Partnership Agreement defines the roles, responsibilities, and profit-sharing arrangements among partners, while limiting each partner’s personal liability. It also covers management structure, decision-making processes, and dissolution terms.

Joint Venture

  • Joint Venture Agreement

    A Joint Venture Agreement outlines the terms for two or more businesses to collaborate on a specific project or venture. It defines ownership shares, contributions, profit distribution, management responsibilities, and dispute resolution mechanisms.

Frequently Asked Questions (FAQ)

What is a partnership agreement and why is it important?

A partnership agreement is a legal document that outlines the rights, responsibilities, and profit-sharing arrangements between business partners. It helps prevent disputes by clarifying each partner’s role, capital contributions, and decision-making authority.

Do partnership agreements need to comply with state law?

Yes. Partnership laws vary by state, including requirements for registration, liability, and dissolution. Our templates include state-specific versions to help ensure compliance with local regulations.

What types of partnership agreements are available?

Common types include Limited Partnership (LP), Limited Liability Partnership (LLP), and Joint Venture (JV) agreements. Each type defines different liability protections, management structures, and business purposes.

Can I customize these templates for my business?

Yes. Our templates are fully editable in Word format, allowing you to adjust partner names, ownership percentages, profit-sharing ratios, and other key terms to fit your specific business needs.

How do I download and use these templates?

Simply select the partnership type and state on this page, then download the agreement in Word format. You can edit the document directly, save it, and have all partners sign to make it legally binding.

Partnership Agreement Filling Guide

This section provides a detailed guide for filling out partnership agreements, helping you understand each clause and ensuring accurate and complete information entry.

Key Points for Filling Out:

  • Partner Information: Include each partner’s full legal name, business address, ownership percentage, and role in the partnership.
  • Business Purpose: Clearly describe the nature of the business and its primary objectives.
  • Capital Contributions: Specify each partner’s initial contributions (cash, property, services) and any future contribution obligations.
  • Profit and Loss Sharing: Define how profits and losses will be allocated among partners (e.g., based on ownership percentage or another agreed formula).
  • Management and Decision-Making: Outline how decisions will be made (unanimous vote, majority vote, or managing partner authority).
  • Partner Roles and Responsibilities: Assign specific duties, obligations, and authority to each partner to avoid conflicts.
  • New Partners and Withdrawal: State the process for admitting new partners and rules for withdrawal or retirement of existing partners.
  • Liability and Indemnification: Clarify each partner’s liability (depending on LP, LLP, or JV) and rules for indemnification.
  • Duration of Partnership: Define whether the partnership is for a fixed term, specific project, or ongoing until dissolved.
  • Termination and Dissolution: Provide procedures for dissolving the partnership, distributing assets, and handling outstanding liabilities.
  • Dispute Resolution: Agree on methods for resolving disputes (mediation, arbitration, or litigation) and applicable jurisdiction/state law.
  • Confidentiality and Non-Compete (Optional): Include clauses to protect business information and prevent competition if necessary.