Adam Frankel
General Counsel · Technology & AI
15+ years as General Counsel to technology, cloud & AI companies
Business Partnership Agreement by EasyLegalDocs
This template is a Business Partnership Agreement designed for two individuals forming a general partnership. It outlines the partnership's formation, business purpose, capital contributions, profit and loss allocation, management structure, and procedures for dissolution and dispute resolution. It serves as a foundational legal document for establishing a new business venture between partners.
BUSINESS PARTNERSHIP AGREEMENT
This Business Partnership Agreement ("Agreement") is made and entered into as of [effective date],
BY AND BETWEEN: | Partner 1: [partner 1 name], residing at [partner 1 address]; |
AND: | Partner 2: [partner 2 name], residing at [partner 2 address]. collectively referred to as the "Partners" and individually as a "Partner." |
Partnership Formation
The Partners agree to form a general partnership ("Partnership") under the name [partnership name]for the purpose of conducting [business purpose] in accordance with the laws of the state of [governing law state].
Business Purpose
The Partnership shall engage in ____________________________________________________________________________________________________________________________________________________________ and any other lawful activities agreed upon by the Partners.
Term
This Agreement shall commence on [effective date] and shall continue until terminated as provided herein.
Capital Contributions
Each Partner shall contribute the following capital:
Partner 1, [partner 1 name]: $ [partner 1 capital amount]in (circle one) cash/property/services.
Partner 2, [partner 2 name]: $ [partner 2 capital amount] in (circle one) cash/property/services.
Additional contributions may be required upon unanimous agreement.
Profit and Loss Allocation
Profits and losses shall be divided [profit sharing ratio] among the Partners unless otherwise agreed in writing.
Management and Decision-Making
All business decisions shall be made by majority vote.
Each Partner shall have equal authority unless specified otherwise.
Bank Accounts & Financial Management
The Partnership shall maintain a business bank account at ______________ and all Partnership funds shall be deposited therein. Any withdrawals over $______________ require the approval of ____________________________.
Salaries and Distributions
The Partners may draw a salary or distributions as agreed upon. No Partner shall withdraw more than their share of profits unless approved by all Partners.
New Partners & Transfers
Admission of new Partners requires majority consent. No Partner may transfer their interest without the written approval of all other Partners.
Dissolution & Exit Strategy
The Partnership shall dissolve upon:
a) Mutual agreement of the Partners,
b) Death, bankruptcy, or incapacity of a Partner (unless the remaining Partners agree to continue),
c) Any event making the business unlawful.
Upon dissolution, all debts shall be paid, and remaining assets distributed proportionally.
Dispute Resolution
Any disputes shall first be resolved through mediation. If unresolved, disputes shall be settled via binding arbitration in [arbitration location].
Governing Law
This Agreement shall be governed by the laws of the state of [governing law state].
Miscellaneous Provisions
This Agreement represents the entire agreement between the Partners.
Amendments must be in writing and signed by all Partners.
If any provision is found unenforceable, the remaining provisions shall remain valid.
SIGNATURES
Partner 1 | Partner 2 |
About this template
What is this template?
This is a general partnership agreement for two individual partners. It includes specific provisions for bank account withdrawal limits and capital contribution types that are not found in standard corporate bylaws or LLC operating agreements.
When should you use it?
Use this when starting an unincorporated business with one other person where both parties share unlimited liability. Use a Limited Liability Partnership agreement instead if you require protection for personal assets.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Partnership Formation | Establishes a general partnership under a specific name to conduct business in accordance with a named state's laws. |
| 4 | Capital Contributions | Identifies the specific dollar amount and form of contribution, such as cash or services, provided by each Partner. |
| 5 | Profit and Loss Allocation | Specifies a profit sharing ratio for dividing gains and losses among the Partners. |
| 6 | Management and Decision-Making | Requires a majority vote for all business decisions and grants each Partner equal authority. |
| 9 | New Partners & Transfers | Mandates majority consent for new admissions and unanimous written approval for any transfer of a Partner's interest. |
| 10 | Dissolution & Exit Strategy | Triggers business termination upon mutual agreement, bankruptcy, or the death of a Partner. |
| 11 | Dispute Resolution | Requires mediation followed by binding arbitration in a specified location to resolve Partnership disagreements. |
Who it's for
- two individuals forming a general partnership in a US state
- business partners contributing specific capital amounts in cash, property, or services
- partners seeking a majority-vote management structure with equal authority
How long it runs and how it's signed
How long
Runs until someone ends it
Survives the end
Miscellaneous Provisions
Signed by
Partner 1, Partner 2
Witness
Not required
Notarisation
Not required
United States note
This version is drafted for US law generally. Contract, employment and consumer rules vary by state — for example on non-competes and at-will employment. Tell GitLaw which state applies and it adjusts the draft.
Jurisdiction
United States of America
Document info
HTML document. Document created on Fri Sep 26th, 2025. Last updated on Fri Nov 14th, 2025.
This document is public
Licensed under CC BY 4.0 (Attribution).
Come to agreements faster
Write, review, negotiate, and manage legal contracts
Related documents
US
Github Terms Github Pre Release License Terms (GitHub)
This software license governs the use of pre-release, non-production versions of products for testing and evaluation. It restricts use to internal non-production environments and grants the company broad rights to collect telemetry data and feedback.
Updated 13 Aug 2026
US
Github Terms Github Marketplace Terms Of Service (GitHub)
This agreement governs the use of a digital marketplace for selecting and purchasing developer applications or actions. It establishes the legal relationship between the platform operator, third-party software providers, and users who install these tools.
Updated 13 Aug 2026
US
Pocket Privacy Policy by Mozilla
This privacy policy outlines how a technology provider collects, uses, and protects personal information across its applications and websites. It details the collection of URLs, device identifiers, and browser types while explaining your rights to manage cookies and access your account data.
Updated 13 Aug 2026
US
Personal Training Contract by EasyLegalDocs
This contract establishes the terms for professional personal training services between a trainer and a client. It outlines payment structures, session cancellation policies, and provides a liability waiver to protect the trainer from injury-related claims.
Updated 13 Aug 2026
US
Subcontractor Agreement (US) by EasyLegalDocs
This template establishes a relationship between a prime contractor and a subcontractor for specific project deliverables. It includes detailed sections for services provided, fixed compensation terms, and explicit requirements for Workers' Compensation and liability insurance.
Updated 13 Aug 2026
US
Catering Contract by EasyLegalDocs
Establish terms for catering services including event logistics, menu selection, and payment schedules. This document protects the caterer and customer by defining menu substitution rights, venue access requirements, and specific cancellation fees based on the estimated total cost.
Updated 13 Aug 2026
Frequently asked questions
A template isn't binding on its own - like any contract, it becomes binding once it's properly completed and signed. Templates in our curated library are professionally drafted for US or UK law; review any template before you sign it.
Yes. Chat with GitLaw to edit any section, or make changes directly in the editor.
Yes, read about team plans here.
Describe what you need in the chat and GitLaw will draft it for you.
Templates in our curated library are professionally drafted for US or UK law. The wider library comes from the GitLaw community and public sources - a solid starting point, but check any template fits your situation before you rely on it.
Mostly US and UK law. Some templates use general commercial terms that work across jurisdictions, and many note which law they're written for.
It depends on the situation. Templates work well for routine business agreements. For anything involving significant money, complex IP, employment, or areas you're unsure about, it's worth getting professional advice before you sign. GitLaw provides templates and tools, not legal advice.
Open any template in GitLaw and describe the change you want in the chat — 'make clause 4 mutual' or 'add a 30-day notice period', for example. GitLaw drafts the revised language and shows it as a suggested edit. You accept, reject, or keep editing from there.
Yes. Upload a Word, PDF, or Markdown file and GitLaw will open it in the editor. You can review, edit, or chat with GitLaw about it the same way you would with any template from the library.
Trusted by 5,000+ businesses
From template to signed, in one place
Every template opens in an editor with an AI agent alongside it.
1
Open
Pick a template and open it. Nothing to download, and no credit card to start.
Free to open
2
Edit with AI
Describe your situation in chat and the agent adapts the wording, clause by clause.
Tracked changes you can review
3
Send and sign
Share it for negotiation, then collect signatures without leaving GitLaw.
eSign included
Built for your legal work,
with practicing lawyers
Trained on 5,500+ clauses and specialist areas of law. Built with a standards committee of independent lawyers.
Adam Frankel
General Counsel · Technology & AI
15+ years as General Counsel to technology, cloud & AI companies
Juliana Calil
Principal Counsel · Technology & Entertainment
20+ years in-house at Google, Intel, Disney and Looker
Adam Wardel
General Counsel, Data Privacy Officer & AI Advisor
12+ years leading legal & privacy for SaaS and AI companies
John Hoffman
Associate Director, Corporate Counsel · Life Sciences & Technology
20+ years in corporate counsel, incl. senior counsel at Certara
Richard Nohe
General Counsel · Telecom, Cloud & Data Centers
20+ years in-house, regional General Counsel at BT across 30+ countries
Joe Al-Khayat
General Counsel · Technology & High-Growth Companies
Cross-jurisdictional M&A and SaaS contracting across the UK, US & Australia
Joshua Woo
Technology, AI & Privacy Counsel · APAC
Former Goldman Sachs Executive Director for AI, cybersecurity & privacy in APAC
Sahil Verma
International Business & Investment Lawyer
13+ years in business law, investment law & dispute resolution
Matthew Willis
CRO & General Counsel · SaaS
Former President of the ACC's 2,200-attorney Chicago Chapter · JD + Kellogg MBA
Mayowa Ogunrinola
Legal Consultant · Fintech & AI Compliance
Regulatory strategy, AI governance & data protection for fintech and AI
Steven J. Shanker
Partner and Chair of Corporate and Employment Law
25+ years as a corporate & employment attorney in New York
Rebecca Babbage
Legal Counsel · Financial Services, Corporate & Governance
UK-qualified solicitor working in-house with regulated entities in financial services
Ready to get started?
No sales calls, no credit card. Just chat with GitLaw.
GitLaw provides templates and tools, not legal advice. Templates are a starting point, not a substitute for advice on your situation - for anything significant, speak to a qualified lawyer.