It is highly advisable, though not legally required, that newly formed partnerships draft a written agreement to detail the manner in which the company’s internal affairs are to be organized. With a partnership agreement, you can legally define the manner in which the members of the entity should operate. Future disputes within your organization can be resolved by simply referencing this document as each relevant party will have read and agreed to its terms and conditions upon creation. We recommend seeking legal advice before taking any action towards implementing a document of this nature into your business. Below, we have provided a downloadable agreement template in two common formats (MS Word and Adobe PDF).