Whether you are creating a limited partnership, a general partnership or a limited liability partnership, it is always a good idea to draft a binding agreement between members of the entity to holdĀ them to a certain set of regulations. The rights and duties of each general partner can be effectively laid out in this document to ensure smooth organization and to limit confusion in the case of a future legal dispute. In the case of North Carolina, you are not legally required to draft this document. This is purely an optional provision to take. However, without this document, there will be no legal proof of the nature of the relationship between each individual member and the partnership itself. Take a moment to review our partnership agreement template below, available in both MS Word and Adobe PDF to ensure that it is indeed applicable to your business structure. When ready, submit all necessary information into its fields and have each general partner sign it at the bottom to indicate compliance to its terms.