Partnership Agreement

Suitable for all Australian states and territories

A Partnership Agreement governs the relationship between you and the partners in your business.

Document Overview

Partnership business structures allow individuals to enter business together, and is a common structure in many accounting and law firms. In Australia, partnerships are governed by the Corporations Act 2001 (Cth) however, the legal terms when it comes to termination, dispute resolution, and decision-making are decided amongst the partners themselves. Due to this, it is important to have a Partnership Agreement between you and your partners to set the terms of your Partnership. A Partnership Agreement is necessary as a foundation of your business partnership, ensuring that your interests, and that of your partners, are aligned and protected. Apart from reflecting clearly what business terms the partners agree on, a Partnership Agreement also provides guidance to mediate any disputes that may arise. 

Use this Partnership Agreement if:

  • You are entering into a Partnership and will like to lay down the rules of the Partnership.   

What does the Partnership Agreement cover?

  • Partnership name and business address;

  • Names of the partners;

  • Effective date of agreement, and commencement of Partnership;

  • Maintenance of the Partnership account;

  • Duties and limitations of each partner;

  • Sharing of capital and property, profit or losses;

  • Operation of partner’s shares;

  • Rules governing dissolution of the Partnership;

  • Terms concerning retirement, death, or expulsion of a partner; and 

  • Dispute resolution.

Other names for Partnership Agreement include:

  • Partner Agreement; and

  • Partnership Contract.

PLEASE NOTE THE TRIBOO LLC IS NOT A LAW FIRM AND DOES NOT PROVIDE LEGAL ADVICE. ANY INFORMATION, DOCUMENTS OR OTHERWISE OBTAINED FROM OR PROVIDED BY TRIBOO LLC IS NOT LEGAL ADVICE. IF LEGAL ADVICE IS REQUIRED THE CUSTOMER SHOULD CONTACT A LEGAL PROFESSIONAL.

Otago Originals