Partnership Deed

What is a Partnership Agreement?

A partnership agreement or deed of partnership is a formal legal document that sets out the terms and conditions governing the relationship between individuals who come together to operate a business in partnership. It clearly defines each partner’s roles, responsibilities, rights, and obligations.

This agreement serves as a foundational document for the partnership firms, helping to establish clarity on key matters such as capital contributions, ownership of shares, profit and loss distribution, and management duties. It also provides a framework for resolving disputes, handling the exit of a partner, and addressing other business contingencies.

Why Choose DigiLawyer to Draft Deed for Your Partnership Firm?

Draft legally sound partnership agreement in minutes. Our experts guides you through every step of the process, ensuring your business and contractors are protected.  With options for notarization, expert consultations, and 24/7 support, your business is fully protected. Let DigiLawyer help you draft your Partnership Deed today! 

Expert Lawyers

Partnership Deeds are prepared, reviewed, and stamped by licensed professionals, ensuring legal compliance and protection for all partners.

Easy and Convenient

No office visits. Draft, review, and finalize your deed from anywhere, using your phone or laptop.

Secure & Confidential

We take your privacy seriously. All your data and documents stay encrypted, confidential, and protected with industry-grade security.

Clear and Transparent

Flat, upfront pricing with complete transparency. You’ll always know what you’re paying for - no fine print, no extra fees.

For All Businesses

Ideal for new partnerships, adding partners, or updating existing agreements.

Download or Get It Delivered

Instantly download a partnership agreement PDF online, or get a printed, stamped copy delivered to your doorstep with tracking & proof of dispatch

How DigiLawyer Can Help Partnership Businesses?

DigiLawyer simplifies the process of drafting legally verified Partnership Agreements, ensuring both parties (both the clients) are protected throughout the home-based service engagements. Whether you need a standard template or customized clauses for aspects such as the scope of services, payment terms, liability, and breach consequences, we ensure your agreement is tailored to your needs and fully compliant with the Indian Contract Act, 1872, the Consumer Protection Act, 2019, and the Arbitration and Conciliation Act, 1996- providing a solid legal foundation. 

Documents Required to Draft a Partnership Deed

To prepare your Partnership Deed, you will need the below documents. These documents will help you legally draft your agreement

• Identity proof of all partners (Aadhaar, PAN, Passport, Voter ID, Driving License).
• Address proof of all partners (Utility bill, Aadhaar, Passport, Voter ID, Driving License).
• Passport-sized photographs of all partners.
• Proof of registered office (Rent agreement/Ownership documents along with No Objection Certificate from the owner/landlord).
• Partnership deed draft (printed on non-judicial stamp paper and signed by all partners).
• PAN card of the partnership firm (to be obtained after firm formation).
• Any additional supporting documents specific to your business or local regulations, if applicable.

Other Requirements

The partnership deed must be printed on non-judicial stamp paper of value prescribed by your state’s stamp act. Paying the applicable stamp duty is essential to make your deed legally valid and enforceable in court. Stamp duty rates vary by state and typically depend on the capital contribution declared in the deed.

Additionally, the deed should be signed by all partners and notarized to strengthen its legal standing. While registration of the deed with the Registrar of Firms is optional, it is highly recommended for enhanced legal protection.

Types of Partnership Structures We Support

We assist with drafting agreements for various partnership structures, including:

• General Partnership- Traditional form where all partners share responsibilities and liabilities.
• Limited Liability Partnership (LLP)- Offers limited liability to partners with a separate legal identity.
• Registered and Unregistered Partnerships- Support for both formal and informal business setups.
• Family or Informal Partnerships- Agreements tailored for businesses within families or close associates.

Who Needs a Business Partnership Contract?

If you are establishing or operating a business in collaboration with one or more partners, it is essential to have a well-drafted Partnership Agreement in place. Whether it involves a small family-owned enterprise or an emerging startup among colleagues or friends, a written agreement ensures legal clarity, safeguards the interests of all parties involved, and promotes smooth functioning of the business.

Even in cases where the partnership is built on mutual trust or informal understandings, a documented agreement plays a crucial role in preventing future misunderstandings and in protecting the legal rights and responsibilities of each partner over time.

Why Every Business with Partners Needs a Written Agreement?

A written partnership agreement provides:

• Legal clarity on roles, responsibilities, and authority
• Defined ownership stakes and profit-sharing terms
• Protection against future disputes or misunderstandings
• A framework for decision-making and conflict resolution
• An exit strategy if a partner wants to leave the business

Even if the partnership is built on trust, a formal agreement helps safeguard everyone’s interests and ensures smoother operations.

Key Clauses Covered in Our Partnership Agreement

Our professionally drafted Partnership Agreements include all essential terms to protect your business and ensure smooth functioning. Some of the key clauses we cover include:

• Business Details- Name, nature of the business, and its objectives.
• Capital Contributions- How much money, property, or effort each partner is investing.
• Profit & Loss Sharing- How profits and losses will be divided among partners.
• Roles and Responsibilities- Who will handle what part of the business.
• Decision-Making Process- How decisions will be made (majority vote, unanimous consent, etc.).
• Admission of New Partners- Rules for adding a new partner to the business.
• Withdrawal or Exit- What happens if a partner wants to leave or retire.
• Dispute Resolution- How internal disputes will be handled to avoid litigation.
• Dissolution- Steps to close or wind up the business if required.

FAQs Related to Partnership Agreement