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🤝

What type of partnership are you creating?

Select the option that best matches your situation

⚖️ 50-50 Equal Partnership Two partners with equal shares and control
📊 Majority-Minority (75-25) One majority partner, one minority
🔷 Equal 3-Way Split Three partners with equal shares
📈 Unequal 3-Way Three partners with different shares
✏️ Custom Partnership I'll specify partners and shares manually
👥

Who are the partners?

Add all partners in this agreement

🏢

What is the partnership name?

The trading name of your partnership

🎯

What is the purpose of the partnership?

Describe the business activities

💡 Example: "To operate a graphic design and branding consultancy providing creative services to businesses"
📍

Where is the principal place of business?

The main business address

📅

When does the partnership begin?

The date the partnership commences trading

💰

What are the capital contributions?

Specify each partner's initial investment

ℹ️ Capital contributions should match ownership shares where possible
📊

How will profits and losses be shared?

Specify the split between partners

💵 In Proportion to Capital Based on capital contributions
⚖️ Equally Equal split regardless of capital
✏️ Custom Ratios Specify exact percentages
📉

How should losses be shared?

Usually the same as profit sharing, but can differ

✓ Same as Profit Sharing
📝 Different Ratio Specify below
💰

Will capital contributions earn interest?

Interest paid before profit distribution

❌ No Interest
5️⃣ 5% Per Annum
🔟 10% Per Annum
✏️ Custom Rate
💳

What are the drawing limits?

Monthly withdrawals for living expenses

🚫 No Drawings
⚖️ Equal Monthly Drawings
📊 Proportional to Profit Share
✏️ Custom Amounts
💵

How can additional capital be contributed?

If the partnership needs more investment

🤝 Unanimous Consent Required
👥 Majority Vote Required
📈 Proportional to Existing Shares
👔

What is the management structure?

How will the partnership be managed?

🤝 Equal Management All partners manage equally
👤 Designated Manager(s) Specific partners manage
📋 Defined Roles Each partner has specific duties
🗳️

How will decisions be made?

Voting requirements for partnership decisions

ℹ️ Major decisions typically include: admitting new partners, amending the agreement, selling major assets, taking on significant debt
🏦

What are the banking arrangements?

Bank account and signing requirements

📒

What are the accounting arrangements?

Financial records and reporting

📅

How often should partners meet?

Regular meeting frequency

📆 Monthly
📊 Quarterly
📋 Twice Yearly
📅 Annually
💼

Are partners entitled to salaries?

Regular payments beyond profit share

❌ No Salaries Partners receive only profit distributions
💷 Equal Salaries All partners receive same salary
📊 Different Salaries Partners receive different amounts
⏳

What is the partnership duration?

How long will the partnership continue?

∞ Indefinite No fixed end date
📅 Fixed Term Specific end date
📝

How can the agreement be amended?

Required approval for changes

🗳️ Majority Vote > 50% approval required
📊 75% Majority Super-majority required
🤝 Unanimous All partners must agree
➕

Can new partners be admitted?

Requirements for admitting new partners

🤝 Unanimous Consent All partners must agree
📊 75% Approval Super-majority required
🗳️ Majority Vote > 50% approval required
🚪

What are the withdrawal/retirement terms?

Notice period and payment terms

⚠️

Can partners be expelled?

Grounds and voting requirements

🕊️

What happens on death or incapacity?

Provisions for deceased or incapacitated partners

🚫

Include non-compete restrictions?

Restrictions after leaving the partnership

✖️ No Restrictions
⏱️ 6 Months
📅 12 Months
✏️ Custom Period
⚖️

How should disputes be resolved?

Mechanism for resolving partner disagreements

🤝 Mediation First Attempt mediation before other action
⚖️ Arbitration Binding arbitration required
📋 Mediation then Arbitration Try mediation, then arbitration if needed

How can the partnership be dissolved?

Voting requirements for dissolution

🗳️ Majority Vote > 50% approval required
📊 75% Majority Super-majority required
🤝 Unanimous All partners must agree
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