Get your Partnership Agreement prepared by OpenLegal's lawyers
A Partnership Agreement is made between two or more parties entering into business together in the form of a partnership. The agreement will define how the partnership will actually operate.
Frequently ‘partnerships’ emerge organically between individuals fleshing out a business venture they wish to create together. In which case, what is agreed verbally does have legal standing, but should be formalised into a written contract. Having the obligations, expectations and rights in a written document will help prevent disputes that may emerge downstream.
A Partnership Agreement will typically cover the following areas:
- Financial Contributions
The financial contribution each partner will make
- Profits and Losses
The manner profits and losses will be managed by the partnership
The obligations due to each partner
The rights due to each partner
- Dispute Resolution
In the event of conflict, a mechanism for resolving disputes should be defined
The length of time the Agreement is to last for
The way a departure by one of the partners will be managed
- Other Agreements
Whether other agreements can be entered into by one of the partners that bind the partnership
Our lawyers can draft a partnership or shareholder agreements for you.
Just get in touch with us via the form on this page or by calling us on 1300 337 997.
Ready to get started?
So are we. Tell us about the services your business needs and we will be in touch with you shortly.
We recently engaged OpenLegal. The team were extremely friendly and energetic, took the time to understand my business, were responsive, and overall it was a very smooth speedy process. Would recommend OpenLegal to those businesses seeking cost-effective quick expert advice from a team of personable skilled lawyers.
Business One Consulting
We provide premium legal services, redesigned for small businesses & startups
OpenLegal is a commercial law firm using custom technology and a streamlined approach to provide high quality and affordable legal services.
You will get:
- Fixed Fees
- Free consultations
- Specialist business & startup lawyers
- Fast turnarounds - receive your documents within a few days