Define profit sharing, capital contributions, management structure, withdrawal provisions, and dissolution terms for your business partnership.
I built this generator because too many partnerships start with a handshake and end in litigation. Without a written agreement, your partnership defaults to your state's Uniform Partnership Act, which may not reflect what you and your partners actually intended. Default rules often split profits equally regardless of capital contributions, give every partner equal management authority, and allow any partner to dissolve the entire business by simply withdrawing.
A comprehensive partnership agreement eliminates these default-rule surprises by explicitly defining each partner's rights, obligations, and economic interests. It serves as both a business blueprint and a dispute prevention tool.
Capital & Profit Allocation: The agreement specifies each partner's initial capital contribution, ownership percentage, and how profits and losses are shared. Without this, disputes over money are inevitable.
Management & Decision-Making: Who runs day-to-day operations? What decisions require a vote? What threshold applies (majority, supermajority, or unanimous)? This generator lets you configure all of these controls.
Partner Withdrawal & Buyout: Perhaps the most contentious area in any partnership is what happens when someone wants to leave. This agreement includes valuation methods, payment terms, and non-compete restrictions to handle departures smoothly.
Death & Disability: What happens if a partner dies or becomes incapacitated? Without provisions, the deceased partner's estate may become your new business partner by operation of law. This agreement includes right of first refusal and buyout mechanisms for these scenarios.