Partnership Agreement

PARTNERSHIP AGREEMENT

This Agreement is among [PARTNER 1] and [PARTNER 2] (each a "Partner"), dated [DATE], forming [PARTNERSHIP NAME].

1. PURPOSE & TERM. The partnership will operate [business] beginning [DATE] and continue until dissolved.

2. CAPITAL CONTRIBUTIONS. [Partner 1: $X], [Partner 2: $Y].

3. OWNERSHIP & PROFITS/LOSSES. Allocated [50/50] and distributed [quarterly] after reserves.

4. MANAGEMENT & VOTING. Day-to-day decisions by [majority]; major decisions (new partners, debt over $[X], sale, dissolution) require [unanimous] consent.

5. ROLES & DUTIES. [Each partner's responsibilities].

6. BOOKS & BANKING. Records maintained at [location]; the partnership bank account requires [two] signatures for amounts over $[X].

7. ADMISSION & WITHDRAWAL. New partners admitted by [unanimous] consent. On a partner's withdrawal, death, or disability, the remaining partners may purchase the interest at [valuation method].

8. DISSOLUTION. On dissolution, assets are applied to liabilities, then to capital accounts, then split per ownership.

9. DISPUTES & GOVERNING LAW. [Mediation, then arbitration]; governed by [STATE] law.

PARTNER 1: ___________________  DATE: __________
PARTNER 2: ___________________  DATE: __________

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