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Partnership Agreement

  • Defines the specific profit and loss sharing ratios between partners
  • Establishes clear authority limits for day-to-day business operations
  • Prevents disputes over capital contributions and future funding needs
  • Outlines a structured process for admitting new partners or exits
  • Protects the firm from liabilities caused by an individual partner’s actions
  • Clarifies the ownership of assets brought into the partnership
  • Provides a pre-defined path for the dissolution of the firm

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Experience Icon

7 Years

Of Experience

Cases Solved Icon

3622 +

Cases Solved

Awards Gained Icon

10 +

Awards Gained

Trusted Clients Icon

144 k +

Trusted Clients

Queries Solved Icon

36 k+

Queries Solved

Experience Icon

7 Years

Of Experience

Cases Solved Icon

3622 +

Cases Solved

Awards Gained Icon

10 +

Awards Gained

Trusted Clients Icon

144 k +

Trusted Clients

Queries Solved Icon

36 k+

Queries Solved

Experience Icon

7 Years

Of Experience

Cases Solved Icon

3622 +

Cases Solved

Awards Gained Icon

10 +

Awards Gained

Trusted Clients Icon

144 k +

Trusted Clients

Queries Solved Icon

36 k+

Queries Solved

Overview

A Partnership Agreement is the governing document for a general partnership or an LLP (though LLPs have specific LLP Agreements). It outlines the rules by which partners operate, manage, and share the rewards of the business.

Businesses need this when two or more individuals decide to carry on a trade or profession together. Without a written agreement, the Indian Partnership Act defaults apply, which may not align with the specific needs of the partners.

The legal importance lies in defining "mutual agency"—where one partner's actions bind the others. A robust agreement limits this risk by requiring joint signatures for major decisions and ensuring that liabilities are managed effectively.

Why Choose Ark for Partnership Agreement

Balanced Terms for Collaborative Business Success
Brief Description:
We draft clear partnership deeds that define rights, share rewards, and manage collective risks.

Instant Generation

Automated workflows ensure zero wait times for your PDF export.

Vetted Templates

Updated quarterly to align with the latest regional legal standards.

Standard Draft
  • Profit sharing
  • Capital input
  • Management roles
  • Retirement terms
Get Started

FAQs

Do we have to register a Partnership Deed in India?

It is not mandatory, but registration is required to sue third parties in court.

Can one partner sign a contract on behalf of the whole firm?
What happens if a partner dies?
How are profits distributed?
Can a partner be removed?
Are partners personally liable for firm debts?
Can a partner start a separate competing business?

Why Partner With ARK?

A seamless blend of technology and Chartered Accountant expertise to simplify your business registration.

Comprehensive Tax Services

From GST to income tax, we ensure timely and accurate filings with end-to-end support.

Financial Strategy

We help businesses plan, grow, and manage finances effectively through customized consulting.

ARK Advisor Expert
Startup & MSME Support

Right from business registration to ROC compliance, we assist MSMEs at every stage.

Experienced CA Team

Led by Chartered Accountants with deep domain expertise and industry-specific experience.

What Our Clients Say

Discover what our satisfied clients have to say about their experience working with us

Sandeep Reddy
Founder, Retail Trading Business
" ARK Advisors made our audit process smooth and stress-free. Clear checklist, timely follow-ups, and very practical guidance. "
Anusha Sharma
Partner, Professional Services Firm
" Their team quickly identified compliance gaps and suggested actionable fixes. Reporting was crisp and easy for management to understand. "
Rohit Kulkarni
CFO, Manufacturing Unit
" We got strong process recommendations and control improvements. The audit insights genuinely helped us reduce leakage and improve discipline. "
Meghana Rao
Director, Startup
" Professional, responsive, and very transparent. They explained everything in simple terms and kept the entire process on schedule. "
Imran Khan
Owner, Hospitality Business
" The team ensured our documentation was audit-ready and supported us throughout. Great experience and strong attention to detail. "

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