Generate Your Partnership Agreement in Minutes
Answer a few questions about your partnership, and our AI generates a state-specific agreement covering contributions, profit sharing, authority, and exit terms. Download as a Word doc. Just $59.
No credit card needed to start
How It Works
Answer Questions
Our guided form collects the details for your agreement.
AI Generates Your Doc
Custom partnership agreement created in minutes, not weeks.
Download & Edit
Download as .docx. Edit freely, share with your lawyer or partners.
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.
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.
Resources
Partnership Agreement guides & articles
Expert insights to help you understand and create your partnership agreement.
Restrictive Covenants in Partnership Agreements
Understand how restrictive covenants protect business partnerships, including non-compete, non-solicitation, confidentiality, and non-disparagement clauses.
Partnership Agreements for Family-Owned Businesses
Navigate the unique challenges of family business partnerships, from separating family dynamics from business decisions to succession planning.
Insurance Requirements in Partnership Agreements
Learn which insurance policies your partnership needs, how to structure insurance requirements in your agreement, and how to protect partners and the business.
Partnership at Will vs Fixed-Term Partnership
Understand the differences between a partnership at will and a fixed-term partnership, and learn which structure best fits your business situation.
Accounting Methods and Financial Reporting in Partnerships
Understand the accounting methods partnerships use, from cash vs accrual to capital account maintenance, financial reporting, and audit requirements.
Partnership Agreements for Startup Cofounders
How startup cofounders should structure their partnership agreement, covering equity splits, vesting, IP assignment, roles, and fundraising provisions.