Free General Partnership Agreement Forms

When two or more businesspeople enter into a partnership agreement, it is vital to get all the stipulations on paper, and using free general partnership agreement forms is a great organizational tool to make sure all the bases are covered.

Business partnerships have a pesky way of turning sour in the blink of an eye. It doesn’t matter if the business partners have been friends since childhood, or even if they are family members. Every general partnership needs documentation for the legal protection of everyone involved. These documents protect all partners if one partner wants out, if one partner dies, or if one partner decides that he or she is simply not getting enough money and starts withdrawing funds from the company's bank account.

A good general partnership agreement form specifies:

• Profit and loss provisions
• Management duties
• Provisions in the event of termination of the partnership

Other legal information should be included on the general partnership agreement form, but this can vary depending on the type of business and the scope of the partnership.

Plenty of websites offer free general partnership agreement forms. Usually these websites feature nice examples of what a general partnership agreement form should look like, but in order to download the form into a Word document, there may be a monetary charge. Any computer user familiar with Word documents or any other type of word processing program should have no problem copying and pasting the example and then customizing it to fit the needs of the partnership.

Here is a brief listing of some websites which offer free general partnership agreement forms:

• Internet Legal Research Group features a comprehensive and completely customizable example of a general partnership agreement. The form example is free to access, but a Word version costs around $10.
• Find Law for Small Businesses offers a completely thorough and excellent example of a general partnership agreement. The featured sample agreement featured on the webpae is 13 pages long...quite impressive for a free resource.
• All Business charges around $25 for full access to their downloadable general partnership agreement forms, but people can get sample access to the forms and take a look at the formatting to get a general idea of what a partnership agreement should look like.

Plenty of other websites offer free general partnership agreement forms, or at least a peek at a sample form. Every website, however, does make the disclosure that although the forms are as legally correct as possible, it is still vital for the businesspeople to head to a lawyer and have the forms reviewed to make sure they are legally binding.

A thorough review by legal council is incredibly important before assuming a free general partnership agreement form is legally sufficient. Once the form receives approval by legal council, the involved parties may want to have the form notarized and then file the original signed copy with the county clerk. Filing the form with the county clerk ensures there is always an accessible copy, and also proves that the form exists in case one partner files a grievance and then conveniently loses his or her copy of the agreement.

When forming a general partnership, it is important to make sure that everything is documented and legally binding. New businesses have a high failure rate, so under these stressful conditions, it is no wonder that some relationships go sour. When a general partnership has been spelled out and is legally binding everyone involved is protected. When no such documentation exists, all the partners are simply looking for trouble.

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