Those forming new partnership are well advised to consider drafting a partnership agreement in the early stages of formation. Due to the lack of provisions stated in the initial registration documents, there is a large amount of important details that would remain undefined should you decide against an agreement of this nature. Essentially a partnership agreement is used to relay the relationship between the initial founding partners and the partnership itself. There is no legal obligation to draft this document though we recommend that you take a moment to go over the template that we have provided below, alongside the aid of legal counsel, to weigh the many benefits that drafting a partnership agreement can bring to your business. To download our free template (available in MS Word format and Adobe PDF), click either on the links found above or those located on the screen shot below.