When two or more individuals become the owners of a for-profit business, it is unwise to rely on a handshake or an oral agreement. Formalising your partnership arrangement in writing is vitally important to the success and profitability of a business. By agreeing on the terms of the partnership, and putting that agreement explicitly into writing, you are minimizing the chance of future confusion, conflict and crisis. You also take critical steps towards ensuring the smooth operation of your business.

A partnership is broadly defined by state law and there is flexibility in how a partnership is formed and governed. By formalizing the particulars involved in the operation of your business from the outset you are setting a strong foundation for your business and your business relationship. Our Partnership Agreement allows you to structure your partnership relationship in a way that both serves your business and preserves your rights.

Among others, this form contains the following provisions:

• Name and Principal Place of Business
• Capital Contribution and Capital Accounts
• Prohibited Acts
• Termination of Partnership

This lawyer-prepared packet contains:

1. General Instructions and Checklist
2. Information
3. Step-by-Step Instructions
4. Partnership Agreement (Long Form) for use in Queensland in Australia

Law Compliance: This form complies with the laws of Queensland in Australia