{"id":414060,"date":"2026-10-04T09:41:21","date_gmt":"2026-10-04T14:41:21","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/?page_id=414060"},"modified":"2026-10-04T10:23:50","modified_gmt":"2026-10-04T15:23:50","slug":"how-to-write-a-partnership-agreement","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/business-contracts-forms\/how-to-write-a-partnership-agreement.html","title":{"rendered":"How To Write a Partnership Agreement"},"content":{"rendered":"\n
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How To Write a Partnership Agreement<\/h1>\n\n
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\n By Jordan Walker, J.D.<\/a> | Legally reviewed by Vaidehi Mehta, Esq.<\/a>\n | Last updated\n
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Editorial Note: We earn a commission from affiliate partner links on FindLaw. Commissions do not affect the editorial integrity of our legal content.<\/p>\n\n <\/div>\n \n

\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n\n\n

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Key Takeaways<\/h2>\n

A <\/span><\/i>partnership agreement<\/span><\/i> is a written contract between two or more people who own a business together. It should cover ownership shares, money or property each <\/span><\/i>business partner<\/span><\/i> contributes, <\/span><\/i>profit and loss<\/span><\/i> sharing, job duties, <\/span><\/i>decision-making<\/span><\/i>, and what happens if a partner leaves. You can use a simple template to get started and can have a lawyer review the agreement if the business involves major money, property, employees, unequal ownership, or a complex exit plan.<\/span><\/i><\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n

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\n What To Expect in This Article\n <\/h2>\n
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This article explains what partnership agreements are, when partnership agreements are important, what you should include in a partnership agreement, and how to customize your own using FindLaw\u2019s free partnership agreement template.<\/p>\n\n <\/div>\n \n Jump to Partnership Agreement Template<\/span>\n <\/i>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

Starting a business relationship with someone else can be exciting. But before you open a bank account, sign a lease, or start taking customers, it helps to put your business rules in writing.<\/p>\n\n\n\n

Even if partners do not sign a written agreement, they may still create a partnership through their actions. In that situation, laws of the state may control important business issues instead of the partners\u2019 own preferences.<\/p>\n\n\n\n

What Is a Partnership Contract?<\/strong><\/h2>\n\n\n\n

A written partnership agreement<\/a> is a legal document that explains how two or more people will own and operate a business together. A partnership agreement can set the rules for a general partnership. A limited partnership also uses a partnership agreement, but it generally requires state filings and has different rules for general and limited partners.<\/p>\n\n\n\n

In a general partnership, the partners usually own and manage the business together. In a limited partnership, one or more general partners usually manage the business, while limited partners may invest money or property without handling day-to-day operations. A limited partnership can also have different filing and liability rules under state law.<\/p>\n\n\n\n

A partnership agreement can answer important questions, including:<\/p>\n\n\n\n