Commissions do not affect our editors' opinions or evaluations. A partnership agreement is a legal document that dictates how a small for-profit business will operate under two or more people.

A partnership agreement is a contract between two or more partners in a business venture. The purpose of the agreement is to define the terms and conditions of the relationship between the partners.

A partnership is similar to a sole proprietorship ... If you do an Internet search for “partner agreement template,” you’ll find a number of samples you might use as a starting point.