Although not legally required, we highly recommend that all new partnerships formed in Montana draft a partnership agreement as part of the entity formation process. These documents, which are internal to an entity, lay out the rules and regulations which a given partnership wishes to operate by. They are thus invaluable for the purposes of keeping your partnership organized and well run. Additionally, it would be difficult to convince government agencies, financial institutions and the like, of your legitimacy as an operating entity without having drafted a partnership agreement. To draft a partnership agreement you may use the free template we offer available below in both PDF and MS Word formats. Have your lawyer review the document once complete and, when it is deemed acceptable, disseminate it to all relevant parties in your partnership.