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A business partnership agreement template checklist helps founders, consultants, and small teams document ownership, decision rights, contributions, profit sharing, and exit rules before a disagreement appears.
For structured legal document templates, LawDepot is the approved document-template partner currently available on AI Law Firm Tools.
Partnership agreement sections to review
| Section | What to decide | Why it matters |
|---|---|---|
| Contributions | Cash, equipment, labor, IP, client relationships, or services each partner contributes. | Prevents later arguments about who put in what. |
| Profit sharing | How profits, losses, draws, and retained earnings are handled. | Turns vague fairness into a written formula. |
| Authority | Who can sign contracts, spend money, borrow, hire, or bind the business. | Reduces surprise obligations. |
| Exit rules | Buyout, withdrawal, death, disability, deadlock, and dissolution provisions. | The exit clause is often the most valuable clause. |
| Disputes | Mediation, venue, governing law, and escalation steps. | Creates a process before emotions take over. |
When a template is a good starting point
A template can work for straightforward businesses where the partners already agree on ownership and economics. Use an attorney when there is meaningful IP, outside investment, regulated work, uneven contributions, or high expected revenue.
Next step: compare LawDepot partnership agreement templates, then review the draft against your actual ownership and exit expectations.
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