This template is called a Partnership Agreement.
It can be used by two individuals wishing to conduct a business in partnership with each other.
It sets out the obligations of each Partner and regulates how the partnership will be conducted in basic terms.
As a basic Agreement, it is useful for spouses or family members engaged together in a small business, including for income taxation purposes.
Partnership Agreements are commonly complex and need to be customised on a multiplicity of issues, especially if the Partners are at arms’ length and are entering into a significant commercial enterprise.
Legal and taxation advice should be sought on whether a basic partnership is a suitable structure for conducting your business. There may well be preferable and more effective structures which can and should be used.
This template is provided free of charge and on the terms and conditions set out on the LegalRocket website.
It has been drafted by an incorporated legal practice registered under the Legal Profession Uniform Law in Australia.
If you have any queries or concerns when completing this template, please phone a LegalRocket Lawyer on 1300 615 705 or chat with us for immediate and free help.