How To Use a Free Printable Partnership Agreement

Standardized Legal Documents How To Use a Free Printable Partnership Agreement

Find a Bullet-Proof Free Printable Partnership Agreement With DoNotPay

Creating a partnership agreement is not an easy task. For someone who can’t afford pricey attorneys or doesn’t feel confident drafting the contract themselves, a free online contract template is sometimes the only option.

But can you find a free printable partnership agreement that meets specific legal standards? DoNotPay will explain what constitutes a comprehensive partnership agreement and how to find a reliable online template fast and easily!

What Makes Up a Partnership Agreement?

Partnership agreements are necessary in the business world. In complex partnerships, there is a big chance of conflicts and misunderstandings. A legal document that outlines management rules and relationships between partners reduces possible disputes to a minimum.

Partnership agreements differ depending on the type of business but should define some general terms, including:

  • Percentage of the ownership
  • Profit and loss division
  • Partnership duration
  • Decision making and dispute resolution
  • Partner authority 
  • Withdrawal or death of a partner

When searching for a partnership agreement template, you need to consider the above-mentioned terms and specific state law requirements.

How To Fill Out a Sample Partnership Agreement?

Before choosing a free printable partnership agreement template, you should know which sections this contract should include and how to complete them. Check out a more detailed description of the partnership agreement paragraphs in the table below:

Partnership Agreement SectionsDetails

Partnership description

This section should include the name of your partnership. You and your partner can use your last names or choose a new one

Partnership rules

In this section, you should:

  • Outline who has contributed funds, capital, or services to the business
  • Determine the ownership percentage each partner will have
  • Define the distribution of profits and losses and a payment distribution schedule
  • Specify the interest percentage and financial needs of each partner
  • Designate a partner to file the Schedule K-1 form with the Internal Revenue Service
  • Develop a tax payment protocol 
  • Define each partner’s duties regarding buying, bookkeeping, management, and other responsibilities

Terms of authority

This section should:

  • Define what constitutes a minor and major business decision
  • Determine each partner’s authority during the decision-making process
  • Indicate when an unresolved dispute should go to court
  • Outline the issues when a partner withdraws from the company or dies
  • Create the policy for admitting new partners
  • Specify buyout conditions 

Where To Find a Free Printable Partnership Agreement?

Partnership agreement templates are widely available online. Most of them are free and contain all crucial sections of the contract. 

If you want to find a printable partnership agreement that meets your needs, you should:

  1. Define your criteriaResearch your state laws and consider your particular case to determine what your contract should include
  2. Have patienceDon’t go for the first template you see. You should look for the one that meets the requirements
  3. Choose from a professional website—Avoid amateur-looking websites because chances of finding a comprehensive partnership agreement template there are slim
  4. Seek advice Get a confirmation from a professional that you met all legal conditions. A lawyer will not overcharge you for checking a drafted agreement

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Everyone needs a legal document once in a while, be it a non-compete agreement, bill of sale, or prenuptial agreement. Writing a contract is way easier with DoNotPay! 

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  1. Enter the name of the document you wish to create 
  2. Answer a few questions from our chatbot
  3. Wait for the personalized contract from DoNotPay

We have so much more to offer! By , you will be able to take advantage of our other integrating features. You can not only create but also notarize and fax legal documents from DoNotPay’s user-friendly platform!

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Wondering which contracts we can create for you? Here is a quick overview of the legal documents DoNotPay generates on your behalf:

Business Real Estate


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If you want to know more about legal documents, our learning center is the place to start. Read our comprehensive articles and find out:

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