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Enter the full legal name of this party exactly as it appears on their ID or business registration.
Enter the full legal name of this party exactly as it appears on their ID or business registration.
A General Partnership Agreement is the legal contract between two or more people who co-own and operate a business for profit. It governs profit splits, decision-making authority, capital contributions, and what happens when a partner wants to exit or dies. Without one, your state's Uniform Partnership Act controls — often producing outcomes that surprise partners. Fill out this free general partnership agreement template online, e-sign it digitally, and download a legally valid PDF. no account or lawyer needed. Sections: Partners, Terms.
This General Partnership Agreement is made effective ______________ between ______________, of ______________, and ______________, of ______________ (each a "Partner").
The Partners hereby form a general partnership under the name ______________ (the "Partnership") to engage in the following business: ______________.
Partner 1 contributes $0.00 and Partner 2 contributes $0.00 to the initial capital of the Partnership.
Net profits and losses shall be shared equally between the Partners.
Each Partner shall have equal rights in the management and conduct of the Partnership business. Major decisions require unanimous consent.
The Partnership shall keep accurate books and records, available for inspection by each Partner at all reasonable times.
A Partner may withdraw upon ninety (90) days' written notice. Upon dissolution, Partnership assets shall be applied to debts, then returned as capital contributions, with any surplus distributed per the profit-sharing ratio.
This Agreement shall be governed by and construed in accordance with the laws of the State of ______________, without regard to its conflict-of-laws principles.