We here at Start a Business adviseĀ that all newly formed partnerships incorporate the drafting of a partnership agreement into the formation process of their entity to help organize the business’s internal affairs. Since thereĀ are limited provisions in the initial formation documents for this entity type, it is quite possible that this agreement will serve as the only legal proof of the manner in which the members of the business must operate. There is no legal obligation to draft this document and the Secretary of State has made no demand for a copy to be submitted to their offices. However, we recommend reviewing our template agreement, with the aid of legal counsel, to see if implementing one into your business structure could be beneficial. Our free template can be found below, available for download in MS Word and PDF formats.