Ƶ

Partnership Agreement In Written Form for India

Partnership Agreement In Written Form Template for India

A comprehensive legal document governed by Indian law, specifically the Indian Partnership Act, 1932, that establishes and regulates the relationship between two or more parties entering into a business partnership. This agreement outlines the essential terms and conditions of the partnership, including capital contributions, profit-sharing ratios, management responsibilities, and dispute resolution mechanisms. It serves as a binding contract that provides legal protection to all partners and establishes clear guidelines for business operations, partner obligations, and eventual dissolution procedures, all while ensuring compliance with Indian partnership and business laws.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Partnership Agreement In Written Form

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Partnership Agreement In Written Form?

The Partnership Agreement In Written Form is a crucial legal document used when two or more parties wish to enter into a formal business partnership in India. This document is essential for establishing clear terms and conditions governing the partnership relationship, ensuring compliance with the Indian Partnership Act, 1932, and other relevant Indian laws. It becomes particularly important when partners want to formalize their business relationship, protect their interests, and have a clear framework for operations, profit sharing, and dispute resolution. The agreement typically includes detailed provisions about capital contributions, profit and loss sharing, management rights, partner duties, and exit procedures. While verbal partnerships are legally recognized in India, a written agreement provides better protection and clarity for all parties involved, making it the preferred choice for serious business ventures.

What sections should be included in a Partnership Agreement In Written Form?

1. Parties: Details of all partners including full names, addresses, and other identification details

2. Background: Context of the partnership formation and brief description of the business purpose

3. Definitions: Definitions of key terms used throughout the agreement

4. Partnership Name and Business: Official name of the partnership and detailed description of its business activities

5. Term and Commencement: Duration of the partnership and its start date

6. Capital Contribution: Details of initial and any subsequent capital contributions by each partner

7. Profit and Loss Sharing: Ratio and mechanism for sharing profits and losses among partners

8. Management and Decision Making: Management structure, voting rights, and decision-making processes

9. Rights and Duties of Partners: Detailed obligations and rights of all partners

10. Banking and Financial Arrangements: Details of partnership bank accounts, signing authorities, and financial management

11. Books of Account and Audit: Requirements for maintaining accounts and conducting audits

12. Admission of New Partners: Process and conditions for admitting new partners

13. Retirement and Expulsion: Procedures for partner retirement and conditions for expulsion

14. Death of Partner: Consequences and procedures following the death of a partner

15. Dissolution and Winding Up: Circumstances and procedures for partnership dissolution

16. Dispute Resolution: Methods and procedures for resolving disputes between partners

17. Governing Law: Specification of Indian law as governing law and jurisdiction

What sections are optional to include in a Partnership Agreement In Written Form?

1. Non-Compete and Confidentiality: Restrictions on partners competing with the business and handling of confidential information

2. Intellectual Property Rights: Ownership and management of IP created during the partnership

3. Insurance: Requirements for business insurance and partner life insurance

4. Partner Loans: Terms for loans made by partners to the partnership

5. Goodwill Valuation: Method of valuing goodwill in case of partner exit or dissolution

6. Branch Offices: Provisions for opening and managing branch offices

7. Social Media and Digital Presence: Management of partnership's online presence and social media accounts

8. Environmental Compliance: Environmental responsibilities and compliance requirements

What schedules should be included in a Partnership Agreement In Written Form?

1. Schedule A - Capital Contributions: Detailed breakdown of each partner's capital contributions

2. Schedule B - Profit Sharing Ratio: Detailed profit and loss sharing arrangements

3. Schedule C - Business Plan: Initial business plan and objectives

4. Schedule D - Property Details: Details of partnership property and assets

5. Schedule E - Partner Responsibilities: Specific roles and responsibilities of each partner

6. Appendix 1 - Partnership Resolution Format: Standard format for partnership resolutions

7. Appendix 2 - Bank Account Operating Mandate: Banking arrangements and authorized signatories

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions


































Clauses






























Relevant Industries

Professional Services

Retail

Manufacturing

Real Estate

Information Technology

Healthcare

Construction

Hospitality

Agriculture

Consulting

Trading

Education

Financial Services

Transportation and Logistics

Relevant Teams

Legal

Finance

Compliance

Risk Management

Operations

Business Development

Corporate Affairs

Administration

Strategy

Executive Leadership

Relevant Roles

Business Owner

Managing Partner

Legal Counsel

Company Secretary

Chief Executive Officer

Chief Financial Officer

Business Development Manager

Compliance Officer

Risk Manager

Operations Manager

Legal Administrator

Partnership Consultant

Business Advisor

Corporate Lawyer

Chartered Accountant

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Lease Agreement Form

An Indian law-compliant agreement establishing terms and conditions between property owner and tenant for the rental of residential or commercial property.

find out more

Evergreen Contract

An automatically renewing contract template compliant with Indian law, designed for ongoing business relationships.

find out more

Contract For Deed

An Indian law-compliant agreement where property is sold through installment payments, with the seller retaining title until full payment is received.

find out more

Bespoke Contract

A customized legal agreement tailored to specific business requirements under Indian law, incorporating both mandatory legal provisions and specialized commercial terms.

find out more

Supplementary Agreement

An Indian law-governed document that modifies or adds to an existing agreement while maintaining its core structure and legal framework.

find out more

Public Contract

An Indian law-governed agreement between a government entity and private party for public procurement, following government procurement regulations and compliance requirements.

find out more

Partnership Agreement In Written Form

A legally binding agreement under Indian law that establishes a partnership between two or more parties, defining their rights, responsibilities, and business relationship.

find out more

Business Agreement

A legally binding business agreement under Indian law establishing commercial relationships between parties, incorporating key provisions and compliance requirements.

find out more

Warrant Agreement

An Indian law-governed agreement establishing terms for issuance and exercise of warrants, complying with SEBI regulations and Companies Act requirements.

find out more

Triple Net Lease Agreement

An Indian law-governed lease agreement where the tenant is responsible for property taxes, insurance, and maintenance costs in addition to rent.

find out more

Surety Agreement

An Indian law-governed agreement where a surety guarantees the payment or performance obligations of a principal debtor to a creditor.

find out more

Subscription Agreement

An Indian law-governed agreement establishing terms for recurring access to products or services, defining rights and obligations of service providers and subscribers.

find out more

Sub Tenancy Agreement

An Indian law-compliant agreement allowing a tenant to lease their rented property to another party, subject to state-specific regulations and original lease terms.

find out more

Short Term Contract

An Indian law-governed contract for temporary employment relationships, establishing terms and conditions for fixed-duration engagements while ensuring compliance with local labor regulations.

find out more

Scheduling Agreement

An Indian law-governed framework agreement establishing terms for scheduled, recurring deliveries of goods or services with predetermined quantities and timelines.

find out more

Probationary Contract

An Indian law-governed employment agreement establishing terms for a probationary period of employment, including conditions for permanent confirmation.

find out more

Purchase Proposal

A formal document under Indian law outlining a buyer's intent to purchase specific goods or services, including key terms and conditions.

find out more

Novation Agreement (Real Estate)

An Indian law-governed agreement transferring rights and obligations under an existing real estate contract from one party to another, with the consent of all parties involved.

find out more

Novation Agreement

An Indian law-governed tripartite agreement that transfers contractual rights and obligations from one party to another, with all parties' consent.

find out more

Option Contract (Real Estate)

An Indian law-governed agreement granting exclusive rights to purchase specified real estate property within a set timeframe and price.

find out more

Material Contract

An Indian law-governed agreement establishing terms for material supply, including specifications, quality standards, and delivery terms.

find out more

Labor Contract

An Indian law-compliant employment agreement establishing terms and conditions between employer and employee.

find out more

Lease Deed

An Indian law-compliant legal document establishing terms and conditions for leasing property between a lessor and lessee.

find out more

Informal Contract

Template for creating simple, legally valid informal contracts under Indian law, suitable for small businesses and freelancers.

find out more

Individual Contract

An Indian law-governed employment contract establishing terms and conditions between employer and employee, ensuring compliance with local labor laws.

find out more

Franchise Agreement

An Indian law-governed agreement establishing a franchise relationship, granting business operation rights under the franchisor's brand and system.

find out more

Form For Independent Contractor

Standard Indian law-compliant Independent Contractor Agreement template for establishing and managing independent service provider relationships.

find out more

Encroachment Agreement

An Indian law-compliant agreement that resolves property encroachment issues between parties, establishing rights and obligations regarding the encroached property.

find out more

Executive Contract

An Indian law-governed employment agreement for executive positions, defining terms of employment, duties, compensation, and obligations in compliance with Indian corporate and labor laws.

find out more

Contingency Contract

An Indian law-governed Contingency Contract establishing obligations dependent on specified future uncertain events, structured under the Indian Contract Act, 1872.

find out more

Consent Agreement

An Indian law-compliant agreement documenting explicit consent for personal data collection and processing, ensuring legal data handling practices.

find out more

Business To Business Contract

An Indian law-governed contract template for establishing commercial relationships between business entities, ensuring compliance with Indian contract law and commercial regulations.

find out more

Barter Agreement

An Indian law-governed agreement facilitating the direct exchange of goods/services between parties without monetary consideration.

find out more

Master Contract

An Indian law-governed framework agreement that establishes standard terms and conditions for future specific agreements between parties.

find out more

Notarial Contract

An Indian law-governed contract formally authenticated by a licensed notary public, providing enhanced legal certainty and evidentiary value.

find out more

Basic Ordering Agreement

An Indian law-governed master agreement establishing terms and conditions for future orders between parties, streamlining recurring business transactions.

find out more

Guarantee Contract

An Indian law-governed contract where a guarantor undertakes to fulfill another party's obligations to a beneficiary upon default.

find out more

Tenancy Agreement Form

An Indian law-compliant agreement establishing terms and conditions between landlord and tenant for property rental, incorporating relevant state and central legislation requirements.

find out more

General Tenancy Agreement

An Indian law-compliant agreement establishing terms and conditions for property rental between landlord and tenant, governed by Indian property legislation and state-specific regulations.

find out more

Contract Agreement Form

A standardized contract agreement template compliant with Indian law, establishing legally binding terms between parties.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it