A comprehensive partnership agreement suitable for a business in any industry and with any number of partners. Covering a large number of practical, commercial and administrative points, it allows you to amend the default provisions of the Partnership Act and also provides additional terms relevant to how a modern day business operates. Use it not only to protect your legal rights but also to set out how you want your partnership to work.
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
Create a modern partnership agreement
This is a professionally drawn, comprehensive document designed to protect and help you, just as you would expect your solicitor to produce. As well as paragraphs relating to law, it contains a large set of commercial and practical provisions that will help you manage your business and inter-partner relationships. This document should give you a high level of protection in today’s environment.
Despite the completeness and thoroughness of this document, editing is easy. It is written in plain English, without legal jargon or complicated paragraph referencing so that you can simply and easily delete what you don't need.
Why you need such a comprehensive partnership agreement
The law relating to partnerships is over 100 years old and is very basic indeed. It doesn't reflect how modern day partnerships operate. A good agreement therefore should not only improve on the default provisions, but also include paragraphs that set out in greater detail how your business will work.
Other partnership agreements on the Internet, particularly ‘short’ versions, might cover the basics to form a partnership, but they aren’t likely to protect your interest in your new business sufficiently. Far more issues are considered in this document than in any other template we have seen.
For example, this agreement provides a set of easy-to-edit paragraphs covering intellectual property protection in depth. Most businesses have valuable intellectual property, whether know-how or designs, but few partnership agreements address intellectual property, whether recognising who brings it into partnership, or who has the right to use it during and once the partnership ends.
If your business has less at stake, as small trader or service provider, we offer a similar document in our Family partnership agreement.
Who should use this partnership agreement
A partnership agreement is not specific to a particular type of business. Its purpose is to set out the arrangements between the parties about how they will work, in much the same way as a shareholders’ agreement for a company. So this template is as suitable for a trade business as for a partnership of architects.
It is ideal for partnerships with between 2 and 10 partners, but could be used for larger partnerships as well.
When to use this partnership agreement
A partnership agreement is likely to be required in the following circumstances:
- when two or more people start a new business together
- when a new person takes a share in an existing business operated by one person
- when existing partners want to formalise their partnership agreement
- when existing partners want to change the balance of control and ownership of the business
- Business of the Partnership
- Partnership shares
- Partnership property
- Loans to the Partnership
- Banking arrangements
- Records and accounts
- Meetings and voting
- Good faith
- Partnership policies
- Restrictions on Partners
- Intellectual Property
- No competition
- Termination of the Partnership
- After termination
- Indemnity for the Partnership
- Publicity / Announcements
- Comprehensive termination provisions to protect ongoing partners
- Other terms
This document was written by a solicitor for Net Lawman. It complies with current Australian law.
What other customers thought
Average customer rating
By Tamara Clarke 06 September 2016
Relevant headings for which we could adapt our situation. Liked the explanatory notes - very useful when we were not sure about a meaning.
By Sonja Arnold 23 March 2016
Great service and very helpful. Had a lot of terms and conditions that we wanted to include within our business partnership. Very helpful in ensuring appropriate legal protection for partners. Thank You!
By Sophie Masson 22 March 2016
A nice clear document in clear English and very comprehensive, it has made a fantastic framework for us as a small business to think about how we work and look towards formalising things. Good to know too that it's all been overlooked by lawyers. Very easy to order, efficient to download, easy to adapt. Good general information too. Recommended.
By Maree Quinn 20 December 2015
What a great service, very helpful if wanting to formalise a small business partnership on a limited budget. Thank you!
By Greg Moyle 25 October 2014
Excellent document with minimal legalese. Fast download and helpful directions.
By Matthew Fields 26 July 2014
Simple and efficient ordering of product. Very clear and informative explanation of different products to make the choice easy and with confidence. Fast delivery of product. Very comprehensive but user friendly document. Full explanation of terms to make editing the document to my requirements a breeze. Saved hours and hours of my time at a price thats chicken feed compared to using a lawyer but with confidence of know the document has been prepared by real lawyers. Very happy with my purchase. Will definitely use Netlawman again and recommend to my friends.
By Joshua Moses 18 July 2014
By Jeannie Zigon 18 June 2014
Entering into a Partnership is a new experience for me. I am highly reassured by your comprehensive, and user friendly document. The access process was simple, convenient, and definitely conducive to my purchase. Great price. Will definitely consult Net Lawman again should the need arise. Highly recommended.
By Kristy Muller 14 June 2014
By Leo Brogan 30 May 2014
By Allen Farrington 05 May 2014
Document was perfect for our needs. Clear and concise .The greatest concern I had prior to the download was not knowing whether the document would be relevant for our needs and it was.Thank You!
By Sue Hickman 18 April 2014
I thought it was very good. As I looked through the agreement, I was impressed by what it sets out to do. I think if any business operator was to base their partnership on this agreement, they would avoid so many of the pitfalls I'm sure we all fall into.
By Leigh Rogers 01 March 2014
A couple of points I hadn't anticipated but I'm certainly glad they were included. Very comprehensive.
By Greg Hayes 18 February 2014
Document covered more than I required. The ability to add points to clauses was a great feature. It is very user friendly.
By Alice Beilby 10 February 2014
I thought the document was very comprehensive and very easy to follow. Yes, I would use Net Lawman again.
By Josef Rutten 12 October 2013
By Jon Barber 21 September 2013
Very good product, so simple to use, price is right, will purchase it again.
By Philip Treweek 26 March 2014
Service was good and Quick.A good basic agreement.
By Kevin Webster 16 December 2013
"Loved it mate, was in somewhat bitter dispute with ex partner, loads of expensive meetings nothing sorted. Got your form, edited it up sent it over -bang, signed, sealed and delivered in 10 mins. Excellent"Ken Warren, Director The Golden Bough
"We design professional websites and use Net Lawman documents to provide the best possible service to our clients."BA Creative
"Used for business and personal documents - good service; in fact .... Great Service!"Engaged Projects