Comprehensive Coverage
Key sections included
Your partnership agreement covers all the essential provisions.
Features
Built for your business
State-Specific Provisions
Automatically references your state's Uniform Partnership Act or Revised UPA and includes state-specific provisions and default rule overrides.
Comprehensive Coverage
Covers partner contributions, profit sharing, management authority, voting rights, departure terms, buyout provisions, and dissolution procedures.
Flexible Contribution Types
Supports cash, property, services, and goodwill contributions with agreed-upon valuations for each partner.
Authority & Management
Define who can sign contracts, hire employees, and make spending decisions with clear authority levels and spending thresholds.
Departure & Buyout Protection
Voluntary withdrawal, death/disability provisions, expulsion causes, and detailed buyout valuation and payment terms.
Dispute Resolution
Built-in mediation, arbitration, or litigation provisions with deadlock resolution mechanisms to handle disagreements.
How it works
Three simple steps
Answer questions about your business. We generate your partnership agreement. Download and review.
Answer Questions
Fill out a guided questionnaire about your business structure, members, and terms.
AI Generates
Our AI creates a comprehensive, legally-structured partnership agreement customized to your inputs.
Download & Review
Download as a Word document. Edit inline or in your preferred word processor. Ready to sign.
FAQ
Frequently asked questions
Do I need a partnership agreement?
Yes. While not all states legally require a written partnership agreement, operating without one means state default rules will govern your partnership. These defaults rarely align with what partners actually intend. A written agreement protects all partners, prevents misunderstandings, and provides clear procedures for critical situations like a partner's departure or disagreement.
Is this customized to my state?
Yes. The generated agreement references your state's specific partnership statute (UPA or RUPA), includes state-required provisions, and accounts for state-specific default rules. Our AI is trained on partnership laws across all 50 states.
What is the difference between a general partnership and an LLC?
A general partnership does not provide limited liability protection to its partners — each partner is personally liable for partnership debts and obligations. An LLC offers limited liability, meaning members' personal assets are generally protected. However, partnerships are simpler to form, have fewer formalities, and may be preferable for certain professional relationships.
Can I use this for an existing partnership?
Yes. You can use pactdraft.ai to create a formal partnership agreement for an existing partnership that has been operating without one, or to replace an outdated agreement. All partners would need to sign the new agreement.
What if I need to change something after generating?
You can edit the agreement inline directly in pactdraft.ai, download it as a Word document and edit in your preferred word processor, or modify your questionnaire answers and regenerate.
Should I have a lawyer review this?
We recommend having a qualified attorney review any legal document before signing. pactdraft.ai generates a comprehensive starting point that covers the provisions a competent business attorney would include, but we are not a law firm and do not provide legal advice.
How is this different from a free template?
Free templates are generic, one-size-fits-all documents that don't account for your state's laws, your specific business structure, or your partners' unique arrangements. Our AI generates a fully customized agreement based on your specific inputs, with state-specific statutory references and provisions tailored to your situation.