Partnership Agreement Documents
A partnership is the relationship between people carrying on a business in common with a view to profit. It can be flexible and private, but it usually means each partner can be personally responsible for the partnership’s debts and obligations.
The Partnership Act 1890 provides default rules, but those defaults are rarely what partners actually want. A written partnership agreement helps you set the commercial deal properly and avoid disputes about profit share, decision-making, capital contributions, partner exits, and how the partnership ends.
This set of templates supports the full lifecycle: setting up and running a general partnership, bringing in new partners, making changes, handling retirements, selling or transferring the business, and dissolving the partnership. Our information pages also explain the practical mechanics of operating in partnership.
When Should You Use These Templates?
✅ you are starting a business with one or more partners and want clear written terms from day one
✅ you want to replace the Partnership Act 1890 default rules with agreed commercial terms
✅ you are admitting a new partner and need them to sign up to the existing agreement
✅ you need to change how profits, drawings, roles, capital or decision-making work
✅ a partner is retiring and you need a clean, agreed exit record
✅ you are selling the partnership business or transferring it into a company or LLP
✅ you are closing the partnership and want a clear dissolution record
🔀 Document Toolkit: Typical Sequence (may vary)
| Step 1 | Get the basics agreed. Use the Guidance Note: Partnerships and Partnership Checklist to confirm who the partners are, what each contributes, how profits and drawings work, and how decisions are made. |
| Step 2 | Choose the right agreement format. Select either a shorter, straightforward agreement or a more detailed long-form agreement, depending on the size and risk of the business and how much you need to spell out. |
| Step 3 | Deal with partner changes properly. If a new partner is joining, use a deed of adherence so they agree to the existing terms. If the agreed terms need updating, use a deed of variation to record the changes cleanly. |
| Step 4 | Record exits and handovers. If a partner is retiring, use the retirement letter and acknowledgement to confirm the departure and avoid later disagreement about what was agreed and when. |
| Step 5 | Plan the next stage. If you are selling the partnership business or transferring it into a company or LLP, use the relevant sale or transfer templates and keep a clear written record of partner approvals. |
| Step 6 | Close the partnership properly (if ending). Use a dissolution deed to confirm the end date, how assets and liabilities are handled, and any final arrangements between the partners. |
These templates are drafted by experienced solicitors and reflect the Partnership Act 1890 and established UK partnership practice.
- Guidance Note: Partnerships
- Partnership Checklist
- Basic Partnership Agreement Template
- Long Form Partnership Agreement
- Deed of Adherence to Basic Partnership Agreement
- Deed of Adherence to Partnership Agreement
- Deed of Variation (Partnerships)
- Partnership Retirement Letter
- Acknowledgement of Retirement from Partnership
- General Partnership and Limited Liability Partnership Comparison Matrix
- Sale of Partnership Business Agreement
- Transfer Of Business By Partnership To Company
- Transfer Of Business by Partnership To LLP
- Dissolution of Partnership Deed
- Partnership Standard Format Minutes
- Partnership Written Resolution
Partnership Agreement Documents is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.