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Partnership Dissolution Agreement
Free partnership dissolution agreement template for formally ending a business partnership and dividing assets.
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This free partnership dissolution agreement covers 1. Dissolution, 2. Winding Up, 3. Division of Assets, 4. Division of Debts and Liabilities, 5. Client/Customer Relationships with 9 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.
Partnership Dissolution Agreement
Partnership Name: [Name] Partners: [Names] Dissolution Date: [Date]
1. Dissolution
The partners agree to dissolve [Partnership Name], effective [Date].
2. Winding Up
The partnership's affairs will be wound up as follows: [Describe process — collecting receivables, paying debts, selling assets if needed].
3. Division of Assets
| Asset | Value | Allocated To |
|---|---|---|
| [Asset] | [Value] | [Partner] |
4. Division of Debts and Liabilities
[Who is responsible for outstanding debts, and in what proportion.]
5. Client/Customer Relationships
[How existing clients will be handled — e.g. "each partner may continue serving clients they primarily worked with."]
6. Use of Business Name
[Whether either partner may continue using the partnership's name, or whether it's retired.]
7. Release
Upon completion of the above, each partner releases the other from further partnership obligations, except as stated in this Agreement.
8. Notification
Partners will jointly notify [clients, vendors, the state (if formally registered)] of the dissolution.
[Each partner signs:] Partner: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. If the partnership was formally registered with the state, formal dissolution paperwork (and often a final tax filing) is also required beyond this agreement between the partners themselves.*
Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.
What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 8 standard sections: 1. Dissolution, 2. Winding Up, 3. Division of Assets, 4. Division of Debts and Liabilities, 5. Client/Customer Relationships, 6. Use of Business Name, …
- 9 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 dissolution agreement template really free?
Yes. Like every template in docstoc's library, this partnership dissolution agreement is free to use, with no account or signup needed to view, edit, or download it.
What does this partnership dissolution agreement cover?
This business template includes 1. Dissolution, 2. Winding Up, 3. Division of Assets, 4. Division of Debts and Liabilities. 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 9 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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