A Simple Half Page Partnership Agreement

publication date: Dec 31, 2007
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Partnerships can be a wonderful way to get a business started. However, many turn out to be far less than our original expectations and sometimes one party wishes to get out of the relationship or buy out a partner. If you failed to establish a way to accomplish this at the beginning of your partnership it is often difficult to establish an unemotional and reasonable method of parting friends after the business is started.

Several years ago someone provided me with this downloadable agreement. At the time I was in the process of setting up a partnership to buy our first auto and truck recycling business. The person who gave it to me had just dissolved a partnership and they swore this agreement kept both of the parties’ friendship and he was very satisfied with the results. I have executed it twice and both times it worked very well .

You should run this by your lawyer just to make sure it is legal in your state.

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