A comprehensive partnership agreement suitable for a business in any industry and with any number of partners. Covering a large number of practical, commercial and administrative points, it allows you to amend the default provisions of the Partnership Act and also provides additional terms relevant to how a modern day business operates. Use it not only to protect your legal rights but also to set out how you want your partnership to work.
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
Create a modern partnership agreement
This is a professionally drawn, comprehensive document designed to protect and help you, just as you would expect your solicitor to produce. As well as paragraphs relating to law, it contains a large set of commercial and practical provisions that will help you manage your business and inter-partner relationships. This document should give you a high level of protection in today’s environment.
Despite the completeness and thoroughness of this document, editing is easy. It is written in plain English, without legal jargon or complicated paragraph referencing so that you can simply and easily delete what you don't need.
Why you need such a comprehensive partnership agreement
The law relating to partnerships is over 100 years old and is very basic indeed. It doesn't reflect how modern day partnerships operate. A good agreement therefore should not only improve on the default provisions, but also include paragraphs that set out in greater detail how your business will work.
Other partnership agreements on the Internet, particularly ‘short’ versions, might cover the basics to form a partnership, but they aren’t likely to protect your interest in your new business sufficiently. Far more issues are considered in this document than in any other template we have seen.
For example, this agreement provides a set of easy-to-edit paragraphs covering intellectual property protection in depth. Most businesses have valuable intellectual property, whether know-how or designs, but few partnership agreements address intellectual property, whether recognising who brings it into partnership, or who has the right to use it during and once the partnership ends.
If your business has less at stake, as small trader or service provider, we offer a similar document in our Family partnership agreement.
Who should use this partnership agreement
A partnership agreement is not specific to a particular type of business. Its purpose is to set out the arrangements between the parties about how they will work, in much the same way as a shareholders’ agreement for a company. So this template is as suitable for a trade business as for a partnership of architects.
It is ideal for partnerships with between 2 and 10 partners, but could be used for larger partnerships as well.
When to use this partnership agreement
A partnership agreement is likely to be required in the following circumstances:
- when two or more people start a new business together
- when a new person takes a share in an existing business operated by one person
- when existing partners want to formalise their partnership agreement
- when existing partners want to change the balance of control and ownership of the business
- Business of the Partnership
- Partnership shares
- Partnership property
- Loans to the Partnership
- Banking arrangements
- Records and accounts
- Meetings and voting
- Good faith
- Partnership policies
- Restrictions on Partners
- Intellectual Property
- No competition
- Termination of the Partnership
- After termination
- Indemnity for the Partnership
- Publicity / Announcements
- Comprehensive termination provisions to protect ongoing partners
- Other terms
This document was written by a solicitor for Net Lawman. It complies with current New Zealand law.
How other customers rated this document
Average customer rating
By Theresa Sayn Wittgenstein 30 January 2017
I didn't know where to start and this document made me realise how many aspects I never would of thought of.
By Yvonne Walshe 14 July 2016
Felt more confident in a agreement that meets NZ legal requirements and some time since dealing with legal agreements with accountancy firm it was great to just customise for my daughter and son in law. Very clear instructions and allowed quick action so they could move along with Partnership.
I would have no hesitation in recommending your site to anyone
By Johanna Jackson 19 June 2016
By Ziegfried Kritzinger 07 June 2016
By Graham Piner 11 April 2016
Excellent document and easy to edit etc, the document has brought praise from both the accountant and the business banking manager. We will use your site again when required, Thank you.
Regards Graham Piner
By Addie Font 25 March 2015
By Murray Paterson 02 March 2015
I had no concerns as I did a quick on-line check on Net Lawman.
I bought from Net Lawman as the form ((Partnership Agreement) was straightforward and gave me a pattern to follow to put before the other proposed partners. This was the feature of the document that was important - a properly formatted structure, easy for the layman to follow. The major benefit is that we now have this well structured pattern for all the prospective partners to read, adjust and discuss. In the end, it should then pass the various lawyers (in vivo) with much less wrangling.
Though I followed and filled out each recommended section - for a straightforward partnership it did/does seem a little long. But then I suspect all laymen think that and all lawyers see a need to cover every eventuality.
It did help focus on the important issues at a very reasonable charge - many thanks.
By Sally Burton 05 July 2013
Really easy to get to what we needed and download it. Only concern was if it covered everything required in NZ. However being UK document is likely to be far more comprehensive than anything produced down here. It has saved us legal fees and accelerated the set up of our partnership and getting us started. Yes would recommend.
Net Lawman responds 05 July 2013
Yes, we assure you that the documents we sell are drawn under updated New Zealand law.
By Rohan Godinho 26 May 2013
Your service was very good as our need was met precisely and promptly. Thank you.
"I used Netlawman to pre-work some contracts for my lawyer. He came back stating that the forms were 'excellent' and saved me several billable hours."Chris T.
"I appreciate your patience. I have to say though it took me a while (I had almost given up) to come across your internet site, but I was quite impressed with the manoverabilty of the site itself and the services it offers. Normally I am very cautious about internet services and am pleasantly impressed by you professional response. Without doubt I will definitely be recommending yourselves to others."Razwana
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