General Partnership Agreement paid order General Partnership Agreement Step 1 of 16 6% Start your General Partnership AgreementWe have our own legal team who will prepare the Partnership Agreement. Develop a comprehensive General Partnership Agreement to outline partner responsibilities, profit allocation, and decision-making authority. Ensure your partnership operates smoothly with clear legal terms. we will contact you if anything is missing. Get started with your agreement now!Please Select Your ProvinceAlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland & LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon Built for Alberta Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Alberta Built for British Columbia Different provinces have different rules and regulations. Your Partnership Agreement will be customized for British Columbia. Built for Manitoba Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Manitoba Built for New Brunswick Different provinces have different rules and regulations. Your Partnership Agreement will be customized for New Brunswick. Built for Newfoundland and Labrador Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Newfoundland and Labrador. Built for the Northwest Territories Different provinces/territories have different rules and regulations. Your Partnership Agreement will be customized for the Northwest Territories.Built for Nova Scotia Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Nova Scotia. Built for Nunavut Different provinces/territories have different rules and regulations. Your Partnership Agreement will be customized for Nunavut. Built for Ontario Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Ontario. Built for Prince Edward Island Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Prince Edward Island. Built for Quebec Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Quebec. Built for Saskatchewan Different provinces have different rules and regulations. Your Partnership Agreement will be customized for Saskatchewan. Built for the Yukon Territory Different provinces/territories have different rules and regulations. Your Partnership Agreement will be customized for the Yukon Territory. Partnership DetailsPartnership Business Name PhoneEmail Partnership Address: Street Address City AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon Province Postal Code Partnership DetailsBusiness PurposeWhat are the usual business activities of the partnership? Partnership Start DateWhat is the start date for your partnership? MM slash DD slash YYYY Partnership DurationThe partnership will continue:Indefinitely (until terminated by the partners)Until a specified date (Fixed Term)Fixed Term End Date: MM slash DD slash YYYY Partner Details / First PartnerType:IndividualBusiness EntityFull Name: PhoneEmail Address Same as Partnership Address Address Street Address City AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon Province Postal Code Second PartnerType:IndividualBusiness EntityFull Name: PhoneEmail Address Same as Partnership Address Address Street Address City AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon Province Postal Code Do you want to add another partner:YesNoThird PartnerType:IndividualBusiness EntityFull Name: PhoneEmail Address Same as Partnership Address Address Street Address City AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon Province Postal Code Do you want to add another partner:YesNoFourth PartnerType:IndividualBusiness EntityFull Name: PhoneEmail Address Same as Partnership Address Address Street Address City AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon Province Postal Code Do you want to add another partnerYesNoFifth PartnerType:IndividualBusiness EntityFull Name: PhoneEmail Address Same as Partnership Address Address Street Address City AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon Province Postal Code Partner Details / Primary Partner ContributionsProvide a description of each partner's capital contributionsDescribe all contributions made by this partner:Describe all contributions made by this partner:What is the total value of this partner's contributions? Second Partner ContributionsDescribe all contributions made by this partner:What is the total value of this partner's contributions? Third Partner ContributionsDescribe all contributions made by this partner:What is the total value of this partner's contributions? Fifth Partner ContributionsDescribe all contributions made by this partner:What is the total value of this partner's contributions? Fourth Partner ContributionsDescribe all contributions made by this partner:What is the total value of this partner's contributions? Partners / Profit and LossHow will your profits and losses be distributed?Equal shareIn proportion to capital contributionsFixed percentFirst partner's share of profit or loss Second partner's share of profit or loss Third partner's share of profit or loss Fourth partner's share of profit or loss Fifth partner's share of profit or loss Remember: The total for all partners should equal 100.00% Partners / New PartnersWill your partnership allow new partners in future?YesNoWhat is required to admit a new partner?Majority voteUnanimous vote Partners / Partner Wants to LeaveWhat is the notice period required before a partner can withdraw?Three MonthsSix MonthsOne YearTwo YearsWill your partnership dissolve on withdrawal of any partner?:YesNoAfter a partner leaves, that partner cannot compete against your partnership for:Three MonthsSix MonthsOne YearTwo Years Partners / Dissolving the PartnershipWhat vote is required to dissolve your partnership?Majority voteUnanimous vote (recommended)How will assets be distributed when winding up your partnership?Equal share for each partnerIn proportion to capital contributionsFixed percentWhat percent of the final dissolution distribution will each partner receive?First partner's dissolution share: Second partner's dissolution share: Third partner's dissolution share: Fourth partner's dissolution share: Fifth partner's dissolution share: Remember: The total for all partners should equal 100.00% Accounting / Partner CompensationWill the partners receive compensation for work done for the partnership?YesNoDo Not SpecifyCompensation would be in addition to a share of the profits. Fiscal Year EndWhat is your fiscal year end? MM slash DD slash YYYY Annual ReportsIn addition to the federal income tax report, what other reports do you want to include in your annual report to partners? Supporting income statement Balance sheet Cash flow statement Profit and loss summary Select All ManagementWho will be responsible for the day-to-day management of your partnership?All partners participateManaging partnerMajor issues would still be determined with a vote of the partners. Who will be the managing partner?First PartnerSecond PartnerThird PartnerForth partnerFifth PartnerUnsureIf necessary, how will you remove a managing partner?Unanimous vote of remaining partnersMajority vote of remaining partners ManagementVoting How will partnership votes be determined?In proportion to capital contributionsIn proportion to profit shareAn equal vote for each partnerWhat vote will be required to make financial decisions?Majority voteUnanimous voteWhat vote will be required to make business decisions?Majority voteUnanimous voteBinding the Partnership in ContractWho can bind your partnership in contract?Any PartnerPartnership VoteManaging partnerPercent vote to bind partners in contract:Majority VoteUnanimous Vote ManagementPartner Meetings When will regular meetings be held?WeeklyMonthlyQuarterlyAnnuallyOnly as requiredWho can request special meetings?Any PartnerMajority of PartnersDo Not SpecifyUnanimous ConsentWhich decisions will require the consent of all partners? Who can sign company cheques. Assume new debts over a certain amount. Assume new expenses over a certain amount. Sell a partnership asset over a certain value. Hire new employees where salary is over a certain amount. Fire employees. Release partnership claims except for payment in full. Decisions affecting the unusual use or lending of partnership equipment. Annual salary limit: OtherAdditional Clauses Do you want to include any additional terms or information?YesNoHow Many Additional Clause do you want add ?12345First Additional Clause Second Additional Clause Third Additional Clause Forth Additional Clause Fifth Additional Clause Sign & WitnessWhen will your agreement be signed?UnsureSpecify DateDate MM slash DD slash YYYY Are witness signatures needed?YesNoTotal Payment: Price: