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Partnership Agreement
Free general partnership agreement template covering ownership split, roles, profit sharing, and exit terms.
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This free partnership agreement covers 1. Formation, 2. Ownership & Capital Contributions, 3. Roles and Responsibilities, 4. Profit and Loss Sharing, 5. Decision-Making with 11 clearly marked [placeholder] fields to fill in — built for founders, freelancers, and small business owners formalizing a business decision or agreement without paying a lawyer to draft it from scratch. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
General Partnership Agreement
Partners: [Partner A Name] and [Partner B Name] (together, the "Partners") Business Name: [Business Name] Effective Date: [Date]
1. Formation
The Partners form a general partnership under the laws of [State] to conduct the business of [Business Description].
2. Ownership & Capital Contributions
| Partner | Ownership % | Initial Contribution |
|---|---|---|
| [Partner A] | [%] | [Amount/Description] |
| [Partner B] | [%] | [Amount/Description] |
3. Roles and Responsibilities
[Partner A] is responsible for: [List] [Partner B] is responsible for: [List]
4. Profit and Loss Sharing
Profits and losses are shared in proportion to ownership percentage, unless otherwise agreed in writing.
5. Decision-Making
[Describe — e.g. "Decisions on X require unanimous agreement; day-to-day decisions may be made by either Partner."]
6. Withdrawal or Death of a Partner
[Describe what happens to that partner's share — buyout terms, valuation method, timeline.]
7. Dispute Resolution
Disputes will first be addressed through good-faith discussion, then [mediation/arbitration] before litigation.
8. Dissolution
The partnership may be dissolved by mutual written agreement, or as otherwise required by law.
[Partner A]: ______________________ Date: ____________ [Partner B]: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. Partnership law and liability exposure vary by state — consult a licensed attorney before forming a partnership.*
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What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 8 standard sections: 1. Formation, 2. Ownership & Capital Contributions, 3. Roles and Responsibilities, 4. Profit and Loss Sharing, 5. Decision-Making, 6. Withdrawal or Death of a Partner, …
- 11 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Early-stage businesses
Getting the basics documented before things get more complex.
FAQ
Is this partnership agreement template really free?
Yes — this Partnership Agreement template on docstoc is free to view, edit online, and download as a PDF with no account or signup required.
What does this partnership agreement cover?
This business template includes 1. Formation, 2. Ownership & Capital Contributions, 3. Roles and Responsibilities, 4. Profit and Loss Sharing. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. This is a general-purpose starting structure, not advice for your specific situation. Business agreements can hinge on details — state of formation, industry-specific regulation, how a dispute would actually play out — that a template can't account for. Have a business attorney review anything that involves real money or real risk before you rely on it.
Can I edit the wording?
Yes — edit directly on the page, adjust any section or clause, and re-fill the 11 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.
Where can I find more free templates like this?
Browse more free business and related document templates in the docstoc library at /document-templates/.
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