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Business partnership agreement template: free in Word, or sign it online

Reviewed in October 2026

A business partnership agreement is a contract between two or more people who run a business together and share its profits. It sets each partner’s contribution, share, duties and what happens when someone leaves. Without one, state default rules decide for you.

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Ten documents free, no card. Signed by every partner.

Partnership agreement example, filled in with sample data
Example filled in with sample data

The full partnership agreement

GENERAL PARTNERSHIP AGREEMENT

This Partnership Agreement (the "Agreement") is made on [date] between [Partner 1 name], of [address], and [Partner 2 name], of [address] (each a "Partner"), who agree to carry on a business together as a general partnership.

1. Name and business

The partnership will operate as [business name] (the "Partnership"). Its business is [description]. Its main place of business is [address].

2. Start and duration

The Partnership starts on [date] and continues until dissolved under this Agreement.

3. Contributions

Partner 1 contributes [cash, equipment or work, with value]. Partner 2 contributes [cash, equipment or work, with value]. Further contributions require the agreement of all Partners.

4. Profits and losses

Net profits and losses are shared [50% to Partner 1 and 50% to Partner 2 / in other stated percentages]. Profits are distributed [monthly / quarterly] after setting aside [percentage]% as a reserve.

5. Salaries and drawings

No Partner receives a salary unless all Partners agree in writing. Each Partner may draw up to [amount] per month against their share of profits.

6. Duties and time

Partner 1 is responsible for [area]. Partner 2 is responsible for [area]. Each Partner will devote [full time / at least hours per week] to the Partnership and will not run a competing business.

7. Decisions

Day-to-day decisions within each Partner’s area may be made by that Partner. Decisions on borrowing, contracts over [amount], new partners, selling major assets or changing the business require the agreement of all Partners.

8. Banking and books

The Partnership will keep its own bank account. Payments over [amount] require [two] signatures. Books are kept on [accounting method] and are open to every Partner.

9. Leaving the partnership

A Partner may withdraw with [90] days’ written notice. The remaining Partners may continue the business and buy the departing Partner’s share at its book value on the last month-end, paid over [12] months.

10. Death or disability

If a Partner dies or becomes permanently unable to work, the remaining Partners may buy that Partner’s share on the terms of clause 9, paid to the Partner or their estate.

11. Disputes

The Partners will try to resolve disputes in good faith. If they cannot within [30] days, they will go to mediation in [city] before any lawsuit.

12. Dissolution

On dissolution, the Partnership will pay its debts, return each Partner’s capital and divide any remainder in the profit-sharing ratio.

13. General terms

This Agreement is governed by the laws of [state]. It may be changed only in writing signed by all Partners. The Partners agree to sign electronically, with the same effect as a handwritten signature.

PARTNER 1

Signature: ______________________

Name: [full name]

Date: [date]

PARTNER 2

Signature: ______________________

Name: [full name]

Date: [date]

What the template includes

  • Business name, purpose and place
  • What each partner contributes
  • Profit and loss split and a reserve
  • Salaries and monthly drawings
  • Each partner’s area and time commitment
  • Which decisions need everyone
  • Bank account rules and open books
  • Withdrawal with notice and a buyout price
  • Death or disability of a partner
  • Mediation before court and dissolution rules

What you fill in

FieldExample
DateOctober 21, 2026
PartnersDaniel Kim and Rosa Mendez
Business nameKim & Mendez Landscaping
ContributionsTruck and tools (18,000 USD) and 18,000 USD cash
Profit split50% and 50%
Monthly drawing2,500 USD each
Notice to withdraw90 days
Governing lawState of Georgia

How it gets signed

  1. 1Choose “Use this template”, fill in the fields and read the full partnership agreement once more.
  2. 2Send it by WhatsApp or email. The other party opens the link on their phone without an account.
  3. 3They tap the brown bar at the bottom that says “Sign as …” and draw their signature with a finger.
  4. 4Everyone gets the signed PDF with its signature certificate. Anyone can check it at signsolu.com/verificar.

Before signing, each signer agrees to sign electronically. The screen links to the electronic signature disclosure the ESIGN Act asks for.

Your first ten documents are free and need no card.

If the other side sends their own PDF form instead, fill in the PDF form online, add the date and your signature, and download it.

What the law says

A general partnership can exist without any filing, as soon as two people run a business together for profit. Each state’s partnership act then sets default rules. In most states those defaults split profits equally and make each partner personally liable for partnership debts.

The SBA explains that partners in a general partnership share unlimited personal liability. If you want a liability shield, an LLC operating agreement may fit better.

The ESIGN Act gives an electronic signature the same effect as one on paper. All partners can sign online from wherever they are.

Partnership or LLC

PointGeneral partnershipLLC
Filing with the stateNot needed in most statesArticles of organization
Personal liability for debtsYes, for each partnerGenerally no
Main internal documentPartnership agreementOperating agreement
Default tax treatmentPartnership returnPartnership return if two or more members

Split the work as clearly as the money

Most partnerships break over effort, not over money. One partner feels they do all the work. Clause 6 names each partner’s area and the time they commit.

Write areas both of you can measure. Sales, crews, purchasing and bookkeeping are clear. “Helping out” is not.

Plan the exit on day one

Partners rarely stay together forever. Clause 9 sets notice, a price formula and a payment schedule. Agreeing on it while you get along costs nothing.

A worked example

Daniel brings a truck and tools worth 18,000 USD. Rosa brings 18,000 USD in cash. They split profits 50/50 and each draws 2,500 USD a month.

In year three Rosa wants to start her own design studio. She gives 90 days’ notice. Daniel buys her share at book value over twelve months and keeps the business running.

Signing the agreement

Each partner signs from a phone with the brown bar at the bottom. Everyone receives the same signed PDF with its certificate. Keep it with the bank documents and the business license.

Common mistakes between partners

  • A handshake instead of a document. Memories differ after a bad year.
  • Equal split with unequal work. Tie drawings or profit shares to the time each partner commits.
  • One partner controls the bank account. Clause 8 asks for two signatures on large payments.
  • No price for a buyout. Without a formula, the exit becomes a negotiation under stress.
  • Mixing personal and business money. Pay drawings from the business account and record them.

When to review the agreement

Read it again each year and when something big changes. A new partner, a large loan or a move into a new city are good triggers.

Changes need all partners to sign, as clause 13 says. Sign a short amendment and keep it with the original agreement.

What to bring before you fill it in

  • The full legal name and address of each partner.
  • A list of what each partner contributes, with a value for any equipment.
  • The profit split and any monthly drawing you agreed.
  • Each partner’s area of work and weekly hours.
  • The amount above which every partner must approve a payment or contract.

With those five items the agreement takes about fifteen minutes to fill in.

Before you sign

Other templates

Frequently asked questions

Is a partnership agreement signed online legally binding?

Yes. The ESIGN Act gives an electronic signature the same legal effect as a handwritten one. The signed PDF and its certificate show who signed the partnership agreement, when and from which device.

Does each partner need a SignSolú account to sign?

No. They open the link on their phone and sign with the brown bar at the bottom of the screen.

Can I download the partnership agreement in Word?

Yes. “Download in Word” gives you the full partnership agreement with no email and no account. You can print it or edit it and sign it here later.

Can a partnership have more than two partners?

Yes. Add each partner in the opening paragraph, in clauses 3 and 4, and in the signature blocks.

Does a partnership agreement protect my personal assets?

No. In a general partnership each partner is personally liable. An LLC or a limited partnership can limit that.

Can partners share profits unequally?

Yes. Write any split in clause 4. It does not have to match the contributions.

Do we need to register a partnership?

Often not for the partnership itself. A trade name, a business license and an EIN from the IRS are usually needed to operate.

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