Partnership agreement template

Starting a business with a partner can be an exciting venture. However, it also comes with legal and operational risks. Without a detailed partnership agreement in place, it’s easy to encounter issues later, such as disagreements over capital contributions, confusion about ownership interests, decision-making power, or procedures if a partner withdraws. These issues can slow your progress or damage your business relationship.

Our partnership agreement template helps you establish clear expectations from the outset. When launching a new company, forming a limited liability partnership, or formalizing an existing collaboration, this template guides you through the essentials of an explicit, legally sound agreement. It saves you time while helping you focus on key details, such as profit-sharing, dispute resolution, and partner roles.

Who benefits from partnership agreement templates?

We once worked with a small business team that encountered significant roadblocks after expanding their partnership. They had never formalized their arrangement in writing, which led to disputes over profit sharing, responsibilities, and ownership interests. Using our partnership agreement template helped them document their expectations, get everyone on the same page, and regain momentum.

This template is handy for small business owners, startups, and individuals entering into a general partnership, LLP, or real estate joint venture. It's also helpful for law firms creating templates for clients, and project managers coordinating multi-party agreements.

When you're defining initial contributions, clarifying roles for new partners, or planning how to resolve disputes through arbitration, this partnership template keeps your business partnership agreement structured and easy to reference.

Why use Asana's partnership agreement template

A team at Asana recently used this template to help manage a cross-functional partnership with an external vendor. Instead of exchanging versions through email, they used a shared project in Asana, added comments, and reached consensus quickly.

With our business partnership agreement template, you can start with a professionally structured outline and adapt it to your specific business relationship. Built into Asana, the template is easy to assign, share, and track. You can document each partner's name, ownership percentage, and capital account setup without needing to toggle between platforms.

Here’s why this template works:

• Start with a legally informed basic partnership agreement template.

• Track updates and comments in real time.

• Add tasks for partner signatures and follow-ups.

• Customize sections like governing law, written consent, and end date.

• Link related projects or documents, like equity breakdowns or meeting notes.

How to use this partnership agreement template

We created this partnership agreement template to be customizable and user-friendly. You can keep everything in one place, including signatures, edits, and legal input.

If you have additional needs, exploring Asana’s template library can transform your business workflows, making them more efficient and easier to manage.

Step 1: Define the partnership type

Start by defining what kind of partnership agreement you’re creating. Is it a general partnership, limited liability partnership (LLP), or limited liability company (LLC) structure? Identifying this will shape how you address matters such as tax obligations and day-to-day decision-making authority on behalf of the partnership.

Use the Tasks tab in the template to create a checklist for identifying your partnership type. You can assign someone to research local laws or upload reference documents via the Files tab, keeping all information accessible to collaborators.

Step 2: Fill in partner details

Include each business partner’s name, role, and initial contribution to the partnership. You can also record details such as partnership interest, ownership percentages, capital contributions, and how you’ll divide partnership income.

Use the "Capital Contributions" task column to document each partner's financial or asset-based input. Create subtasks for reviewing ownership stakes and setting up each capital account. The Comments tab lets you tag partners for feedback or approval.

Step 3: Outline responsibilities and processes

Label sections to define each partner's responsibilities and the decision-making process. Specify how decisions are made (e.g., majority vs unanimous vote), and how to handle conflicts. You might include a section on dispute resolution, such as arbitration or legal mediation.

Break these items into individual tasks. For instance, "Define voting thresholds" or "Document dispute resolution approach." You can assign each task to a specific partner or legal contact. Use the Discussions tab to centralize feedback and keep all of the general partners on the same page.

Step 4: Add legal clauses and conditions

Most legal documents include language like "in witness whereof" or terms for governing law. With this template, you can customize these sections for your region or industry. You may also want to include language regarding partner withdrawal, written notice, or the admission of new partners.

Use the "Legal Clauses" tab to navigate core sections such as jurisdiction, waiver clauses, or partner exits. Attach documents, such as reference agreements or external guidance, under the Files tab for easy access by all reviewers.

Step 5: Finalize and share for review

Once all sections are complete, assign a task to each partner for review and approval. Add a task for any legal representative or law firm that needs to review it. When ready, you can track written consent, get approvals, and store the agreement in your workspace.

Use the Approval column in the right-hand task pane to formally request signoff. You can add due dates for final reviews, link to the final version in the Attachments tab, and view all pending approvals in the Review Status tab at the top.

Step 6: Track changes and updates over time

Even after signing, your general partnership agreement may need updates. Use Asana's template to keep a clear version history and track revisions.

Create a "Version History" task to log changes with timestamps and authors. You can add a subtask each time a clause is updated and tag relevant team members to confirm changes. Use the Comments and Files tabs to keep all documentation in one centralized location.

Asana documentation features

Features in Asana help you turn your partnership contract into a live, collaborative workspace. You can store attachments, assign tasks, and track decisions without losing context. We’ve included some of our favorite documentation features in your partnership agreement template, but you can review the complete list of Asana features here.

Task Assignments

Keep every stakeholder accountable by assigning tasks like "Review partnership clause" or "Add ownership interests section." When setting up a new general partnership, for instance, you can delegate the task of defining each partner’s share and responsibilities. Assigning well-defined roles helps ensure no section gets overlooked during drafting or legal review.

Custom Fields

Add fields for each partner's interest, contribution, or fiscal year alignment. Custom fields allow you to filter or group tasks based on ownership stakes or whether a clause requires unanimous consent. For example, you can tag a clause as "Requires Legal Advice" or "Pending Partner Approval" to simplify handoffs and reduce delays.

Approvals

Use the Approvals feature to streamline feedback on sections like dispute resolution or waiver clauses. You may request approval from a legal representative for language related to governing law, and then set up a follow-up task once that section is approved. With each signoff captured in one place, it’s easier to confirm alignment across your team and legal contacts.

Timeline View

Map out key deadlines for drafting, partner reviews, and final signatures using Timeline View. This layout is handy when coordinating with multiple partners and external advisors. For instance, you could visualize a two-week timeline from initial draft to notarized final document and make real-time adjustments if someone’s input is delayed.

Comment Threads

Keep feedback contextual by adding comments directly to relevant tasks. Instead of emailing about changes to the entire agreement, you can ask a question right within the task for the "Capital Contributions" section. Comments stay attached to the work itself, making it easier to follow conversations and decisions.

Attachments

Upload drafts, scanned agreements, or supporting legal resources to relevant tasks. For example, if you’re working on a real estate partnership, you can attach property valuations or zoning documentation directly to the task for the "Place of Business" clause. Having all files in one place prevents version confusion and lost documents.

Recommended integrations

App integrations help you connect Asana to tools you already use for communication, collaboration, and documentation. These apps simplify the process of creating a strong business partnership agreement.

Browse through the Asana app integration gallery for a complete list of platforms we support.

DocuSign

Finalize your legally binding agreement with secure digital signatures through DocuSign. Once your agreement is ready, you can add a DocuSign task directly in Asana to notify each business partner when it's time to sign. After all parties sign, the completed PDF can be automatically attached to your project for easy record-keeping.

Google Drive

Store working drafts, ownership spreadsheets, or legal templates in a shared Google Drive folder. You can link specific Drive documents to the corresponding task in your agreement workflow. For example, a partner contribution tracker in Sheets can live right next to the task on capital accounts for quick reference.

Slack

Keep your team updated instantly by syncing Asana and Slack. When someone comments on the "Dispute Resolution" clause or completes their review of the "Partner Withdrawal" section, you can get real-time notifications in a shared channel. Slack helps reduce back-and-forth emails and speeds up feedback loops.

Dropbox

Use Dropbox to back up your signed partnership agreement and any associated documents, such as financial audits or historical versions of the contract. You can also link Dropbox files to the "Legal Clauses" or "Final Review" tasks, allowing legal teams to access everything in one place, even if they don't use Asana directly.

Jotform

Use Jotform to collect structured information from new or existing partners. A form might request a partner's name, contact details, initial contributions, and preferred methods of dispute resolution. Submitted forms appear directly in Asana and can trigger tasks like "Review Partner Submission" or "Add to Agreement Draft."

FAQs about partnership agreement templates