Business Formation

Partnership Agreement

Define roles and ownership between partners — contributions, profit splits, decision rights, and what happens if someone leaves.

Create My Partnership Agreement See What’s Included
$29.99 one-time — or unlimited from $99/yr
Category:
Business Formation
Time:
Minutes
Formats:
PDF & Word
Works for:
2+ business partners

PARTNERSHIP AGREEMENT

Prepared with BizDocs

This Partnership Agreement (“Agreement”) is entered into as of July 25, 2026, by and between Harbor & Finch Co. and Meridian Design Studio, LLC.

1. Contributions

What each partner invests — cash, property, or labor.

2. Ownership and profit split

Percentages and distribution rules.

3. Roles and authority

Who manages what, and spending limits.

…

Signature
Signature
What’s included

What your Partnership Agreement covers

your answers shape each section — anything that doesn’t apply stays out
Contributions — What each partner invests — cash, property, or labor
Ownership and profit split — Percentages and distribution rules
Roles and authority — Who manages what, and spending limits
Decision-making and votes — What needs consensus vs. majority
Partner exits and buyouts — Valuation and payment when someone leaves
Dispute resolution and dissolution — How conflicts and wind-downs are handled
The plain-English briefing

What is a Partnership Agreement?

A Partnership Agreement is the founding contract between business partners. It records what each partner contributes, how ownership and profits are divided, who decides what, how disputes get resolved, and the exit rules: buyouts, retirement, death, or a partner who simply wants out.

Without one, your partnership runs on your state's default partnership law — which, among other surprises, often splits profits equally regardless of contribution.

Why it matters

Partnerships fail more often over unwritten expectations than bad businesses. The agreement forces the awkward conversations early — money, control, exits — when they're easy, instead of during a dispute when they're expensive. It's the cheapest insurance a partnership can buy.

How it works

Three steps to a finished document

1

Answer questions

Plain-English questions about your situation, parties, and terms.

2

Review the document

Read what was written from your answers and fine-tune any section.

3

Download & use

Export as PDF or Word — and come back to edit any time.

Fair questions

Partnership Agreement questions

Your state's default rules apply: often equal profit splits, equal management rights, and messy dissolution procedures — regardless of who invested or works more. Any partnership beyond a handshake experiment should write its own rules.
However you agree — by capital contributed, work performed, or a blend. The agreement makes the split explicit and can differ from ownership percentages if that reflects your reality.
That's one of its most important jobs: buy-sell provisions set how a departing partner's share is valued, who can buy it, and on what payment schedule — so an exit doesn't force a fire sale of the business.
Yes. Your answers shape the sections and language of the final document — including your parties, terms, and where relevant your state — so you're not left editing a generic template.
Your finished document downloads as both a polished PDF and a fully editable Microsoft Word (.docx) file, professionally formatted and ready to use.
Yes — every BizDocs document is fully editable. Update names, dates, terms, and entire sections before downloading, or download the Word version and edit it anywhere.
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Your partnership agreement is minutes away.

Answer a few questions and download your customized document today.

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