Partnership Agreement

$79.00

★ Make your partnership official

★ Set the foundations for how you will run your business

★ Peace of mind that your business is legally protected

★ Drafted in plain English by Australian lawyers

★ Complete our Partnership Agreement template in under 5 minutes

What is a Partnership Agreement?

A Partnership Agreement is an agreement between two or more parties who wish to enter into business together in the form of a partnership.

This agreement covers all of the important aspects of the working relationship, including the contributions of each party, responsibilities, share of profits and winding up. Unless you have agreed otherwise, all partners are equal and must share the business profits and losses equally.

Unlike a company, a partnership is not a separate legal entity, although it must have a tax file number (TFN) and an Australian business number (ABN) and must lodge a tax return. Each partner must pay tax on the proportion of partnership income that they receive in a financial year.

 

Do I need a contract for a partnership?

Yes, absolutely! A contract protects both parties.

A Partnership Agreement will help to set the ground rules in black and white so everyone is clear on their obligations and responsibilities from the start. Having a formal written agreement will also reduce the likelihood of disputes.

You need a proper written contract to enforce your rights and protect your interests in case something goes wrong.

 

What does the Partnership Agreement template include?

Our Partnership Agreement template covers everything you need:

★ Partnership details

★ Duration and Termination of the Partnership

★ Labour Contribution

★ Financial Matters (including profit split)

★ Insurance

★ Restrictions on the parties

★ Costs and Expenses

★ Winding Up

★ Dispute Resolution

 

Do I need a Partnership Agreement for a one-off project?

No, a Partnership Agreement is really designed for an ongoing business relationship.

For a one-off project, you should have a look at a Collaboration Agreement instead.

 

Does the partnership name have to be our real names?

No, you can choose a different partnership name if you like.

You may choose to register a business name to use as your trading name.

Otherwise, you can use a combination of the partners names (e.g. John Smith & Jane Smith)

Who is this for?

★ Partnerships

People wanting to formalise their business relationship

★ Two or more parties working together

Why You Need This

Set your business up for success

Our Partnership Agreement template will help to ensure clear communication and defined responsibilities for all of the partners

Clearly set out the terms of your agreement

Lay the foundations for your business partnership so everyone is clear on their obligations and how the partnership will work.

Deal with Disputes

Your agreement covers different situations and how to handle them –  it will help to avoid disputes in the future.

Protect your business and assets

As the old saying goes, plan for the best and prepare for the worst.

You never know what will happen in the future, but it is vital that you have a contract in place to protect everything you have worked hard for.

How does it work?

Our process is designed to be as easy as possible – you could be up and running in as little as 5-10 minutes.

1.  Select the Partnership Agreement template in the Shop and click Add To Cart.

2.  Proceed to Checkout and complete your purchase.

3.  You will receive an email with a download link immediately after you have completed your purchase.

4.  Open the document in MS Word and complete the highlighted fields with your personal information (name, ABN etc). Your document will be ready to go in minutes!

FAQ

Can I customise the templates beyond editing the fields?

Our templates come in Word format, so yes you can if you want. Feel free to add your logo and change the font to reflect your brand.

We do not recommend you change the wording (apart from the fillable fields or Schedule) as this can affect the legal protections contained in the document.

 

What if the law changes and my templates become outdated?

If the law changes, we’ll email you with the changes and updates to add to your existing templates. So please ensure you keep us updated if your email address changes.

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