Partnership Agreement (General)

Just like a marriage it’s wise to choose your business partners well.

Many people find themselves in an actual business partnership without even knowing it. Under Australian tax law you can be deemed to be partners simply by the conduct of the parties towards one another (TR 94/8).

In simple terms, a business partnership is formed when two or more people carry on a business together or receive income jointly.

Business partners are generally liable for the obligations created by each other in the context of doing business.

Partners have the authority to bind the partnership to legal arrangements and incur debts on behalf of the partnership, placing the personal assets of the partners at risk.

Partnership Agreement (Deed of Partnership) template Only $89.95

So if you want some control over your rights and how the partnership impacts on your personal financial situation, then it’s a wise move to have a PARTNERSHIP AGREEMENT (or partnership contract) in place.

If you are thinking about a single, short-term project, our Joint Venture agreement maybe more suitable.

A written agreement provides the framework

A written contract provides the framework for the relationship spelling out the obligations and expectations of the relationship, which reduces the potential for confusion and disputes. It should cover:-:

What will happen if one partner wants
to sell their share?
The equity split of the partnership, ie, how much does each partner own?
How will the profits (or the losses) be split?
What should
happen upon the death of a partner and many other situations.

It’s best to get
these issues out on the table before they become a real problem or large amounts
of money become involved.

If you are thinking about a single, short-term project, our Joint Venture agreement maybe more suitable.

Professionally drafted, easy to edit document available for instant download

This agreement defines rights, roles and responsibilities of each partner, clearly spelling out specific conditions that apply to the partnership.

The document is provided as an easy to edit Word document. Simply insert the correct information, Save and Print.

List of provisions

provisions

Document Excerpt of Partnership Agreement Template

Partnership agreement sample

Your ready-to-use kit includes everything you need to formalize your Business Partnership

Professionally drafted General Partnership Agreement (doc)
Easy to follow Instructions
Friendly customer support

Our fully secured e-commerce system allows you to purchase and download your General Partnership Agreement safely. In just a few minutes you can have everything you need to clearly define the rights, responsibilities and obligations of you and your partners.

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For a complete Business Partnership Agreement Kit that includes every contract and document you may need to form a partnership, please see our Business Partnership Management Kit