Giving you the know-how to enter into a partnership safely and easily.

Can be used to create a General Partnership for business purposes.

Entering into a business partnership is a serious undertaking, and all parties want to be sure they’re protected legally and financially. Now Socrates makes it easy for you to create your own partnership agreement that will give everyone peace of mind without a lot of costly legal fees. This comprehensive General Partnership Agreement is written in concise, up-to-date language and can be filled in to meet the needs of your specific partnership situation. It covers all the important issues that should be considered, including:

• name of the business partnership and the initial partners
• place and nature of business
• duration of partnership
• contribution of capital
• allocation of depreciation, gain or loss on contributed property
• capital and drawing accounts for each partner
• salaries
• loans by partners
• division of profits and losses
• management control
• accounting books, basis, fiscal year and annual audit
• banking of funds
• death or incapacity of a partner
• election of remaining partner(s) to continue business
• valuation of partner’s interest
• payment of purchase price
• termination of partnership

Creating a partnership doesn’t have to be a complicated and stressful process. You can do it yourself easily, accurately and legally with this comprehensive General Partnership Agreement from Socrates.

This form is also included in our exclusive Business Startups Kit, which provides all the advice, information and forms you need to start your own business.

All contents reviewed and approved by attorneys or industry experts.