Small Business Contracts

Partnership Agreement

A general or limited liability partnership: contributions, profits, management, exits.

What you get

  • An editable Word document, drafted from your answers and the state's published law.
  • A proof of sources: every citation in the draft with the words it quotes, the source and whether it is the official text, the date the text was saved and its fingerprint.
  • Notes for counsel listing each point marked [VERIFY], each blank and each choice left for the client.

What the intake asks

Plain questions, in the order an attorney would take the facts. Anything left blank stays a marked blank in the draft; nothing is invented to fill it.

The partnership

  • Your client is
  • Partnership name
  • The business
  • Partners

Money

  • Contributions and loans
  • Profits, losses and distributions

Governance

  • Management and voting
  • Management terms
  • Partners' duties and outside activities
  • Books, bank and records

Changes

  • Transfers of a partner's interest
  • Withdrawal, death, disability and expulsion
  • Dissolution and winding up
  • Disputes and other terms

Signing

  • How will this be signed
  • Other instructions or open decisions

Where it is offered

Every state Lawsmith has sources for:

Sources on file

The drafter works from the texts Lawsmith has saved for this document in the state you choose, plus federal law where it applies. Each is read from its government publisher and dated, and labelled official only where the state designates that text official.

StateSources for this document
California18
Connecticut16
Delaware18
District of Columbia18
Florida18
Maryland18
Massachusetts18
New Jersey18
New York18
Ohio23
Pennsylvania18
Texas22
Virginia22

Among them, for New Jersey:

  • N.J.S.A. 2A:14-1: 6 years
  • N.J.S.A. 42:1A-10 Formation of partnership; rules for determining formation
  • N.J.S.A. 42:1A-15 Statement of partnership authority; filing
  • N.J.S.A. 42:1A-18 Partnership obligations; liability of partners.
  • N.J.S.A. 42:1A-2 Definitions relative to partnerships

The law on file, state by state

What the drafter reads for this document in each state, from the publisher's own pages. A listed text is on file; whether it governs your matter is your call. The collection does not establish complete legal coverage.

California

Connecticut

Delaware

District of Columbia

Florida

Maryland

Massachusetts

New Jersey

New York

Ohio

Pennsylvania

  • 15 Pa.C.S. § 8447. Standards of conduct for partners. statute

    A partner owes the partnership and the other partners the duties of loyalty and care;

  • 15 Pa.C.S. § 8201. Scope (limited liability partnerships). statute

    Subchapter A of Chapter 82 applies to a Pennsylvania general or limited partnership that registers under it by delivering to the Department of State a statement of registration, amendment or termination signed by a…

  • 15 Pa.C.S. § 8204. Limitation on liability of partners. statute

    A partner in a limited liability partnership or limited liability limited partnership is not liable, directly or indirectly, by way of indemnification, contribution or otherwise, for the partnership's debts, obligations…

  • 15 Pa.C.S. § 8415. Contents of partnership agreement. statute

    The partnership agreement governs relations among the partners and with the partnership, a partner's rights and duties, the business and its conduct, amendment, and approval of entity transactions, with the title…

  • 15 Pa.C.S. § 8422. Formation of partnership. statute

    The association of two or more persons to carry on as co-owners a business for profit forms a partnership whether or not they intend one, an association formed under another statute is not a partnership, co-ownership…

  • 15 Pa.C.S. § 8433. Certificate of partnership authority. statute

    A partnership may deliver to the department for filing a certificate of partnership authority that must include its name and the address of its principal office (or registered office for a registered foreign limited…

  • 15 Pa.C.S. § 8412. Definitions. statute

    Definitions for the Pennsylvania Uniform Partnership Act of 2016: business, contribution, distribution (including a redemption of a transferable interest and a payment for relinquishing management rights, but not…

  • 15 Pa.C.S. § 8436. Partner's liability. statute

    Except as subsection (b) or § 8204 (limited liability partnerships) provides, all partners are jointly and severally liable for all debts, obligations and other liabilities of the partnership unless the claimant agrees…

  • 15 Pa.C.S. § 8441. Partner's rights and duties. statute

    Default rules: each partner shares in distributions under § 8445; the partnership reimburses a partner for payments made in the course of the partner's activities on its behalf (if the partner complied with this section…

  • 15 Pa.C.S. § 8445. Sharing of and right to distribution before dissolution. statute

    Distributions before dissolution are in equal shares among partners and dissociated persons whose interests have not been purchased under § 8471, except as § 8453(b) or a charging order provides;

Texas

Virginia

How the draft is checked

Before it writes, the drafter must quote the saved text behind each citation. Lawsmith compares every quotation with the text on file, character for character; a citation with no checked quotation reaches you marked [VERIFY]. The draft still needs your review before it is signed, filed or sent. How citations are checked

Questions attorneys ask

What does Lawsmith draft for a partnership agreement?
A general or limited liability partnership: contributions, profits, management, exits. You start from the matter's documents, describe it in your own words, or answer plain intake questions, and the draft comes back as an editable Word document for your review.
Which states is the partnership agreement offered in?
All 13 states Lawsmith covers: California, Connecticut, Delaware, District of Columbia, Florida, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, Texas and Virginia.
Where do the citations come from?
From the statutes, court rules, regulations and forms Lawsmith has saved from each state's government publishers, with the date each text was read and a label saying whether it is the official text. Before writing, the drafter must quote the saved text behind each citation; a citation with no checked quotation reaches you marked for verification.
Is it reviewed by an attorney?
No. Every draft is a first draft for a licensed attorney's review before it is signed, filed or sent. Each citation in it quotes the text Lawsmith has on file or is marked for verification.
What does it cost?
Five documents free, no card. After that, Professional is $499 a month for one attorney.

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