21+ Official Partnership Agreement Templates in MS WORD

Are you going to start a new partnership business and want to create an agreement for it? Download our simple partnership agreement template free of cost. A simple partnership agreement may be what you need to create the terms and conditions for each partner’s rights and duties. It is a legal settlement between two or more parties and defines the terms of the partnership regarding the rights and responsibilities of parties, the sharing of profit and loss among the partners, and the mechanisms of operating the business together. A partnership according to its act, is not a distinctive entity from its owners.

Using a simple partnership agreement template free, potential users can easily set down the terms and conditions regarding their agreement. Moreover, the terms of such agreement define how the business partnership will be conducted considering the agreement an important foundational document for running the business successfully. It allows your business to get ready for common business scenarios, plan how a partner may leave, the admissibility of a new partner as well as handling unequal and unreasonable partnership contributions. It’s because the routine misunderstandings of partners may lead to some severe disputes which can be pre-fixed by determining clear business expectations in such an agreement.

Moreover, the agreement typically consists of the names of the partners, name of the firm, business address, effective and expiry date of the agreement, major purpose of settlement, voting requirements for making decisions for business, sharing of cost and profit or loss among partners, maintenance of accounting records, contributions at the beginning by partners, starting and ending dates of business’s fiscal year and vice versa. Go ahead and download our simple partnership agreement templates free and printable available below in an extreme variety. Scroll down the page and make any of them yours just by clicking the download button.