Partnership Agreement
Legally binding agreement defining the terms of your business partnership
What is a Partnership Agreement?
A Partnership Agreement, also known as a Partnership Deed, is a legal document that outlines the terms and conditions governing a partnership business. It defines the rights, duties, and obligations of each partner, as well as the rules for managing the business, sharing profits and losses, and resolving disputes.
While not mandatory for partnership registration, having a well-drafted partnership agreement is crucial for preventing misunderstandings and conflicts among partners. It serves as a reference document for all business decisions and helps maintain transparency in operations.
Our legal experts draft comprehensive partnership agreements that cover all essential aspects of your business relationship, ensuring clarity and legal protection for all partners involved.
Why You Need This Agreement
- Clear definition of roles and responsibilities
- Prevent future disputes and conflicts
- Define profit sharing ratios
- Outline decision-making process
- Legal protection for all partners
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Key Terms Covered
Capital Contribution
Amount each partner will invest in the business
Profit & Loss Sharing
Ratio in which profits and losses will be distributed
Roles & Responsibilities
Duties and authority of each partner
Decision Making
Process for making business decisions
Dissolution Terms
Conditions and process for ending the partnership
Dispute Resolution
Mechanism for resolving conflicts
Information Required
- Details of all partners (name, address, PAN)
- Business name and nature of business
- Capital contribution of each partner
- Profit sharing ratio
- Address of business premises
- Bank account details
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