A Partnership Agreement is a contract between two or more business partners that is used to establish the responsibilities, and profit and loss distribution of each partner, as well as other rules about the general partnership, like withdrawals, capital contributions, and financial reporting. Drafting a business partnership agreement will help you and your partners outline how the business will be structured. By detailing the responsibilities and authority of each partner, a partnership agreement provides clarity and allows the partnership to be operated more efficiently. Form a general partnership (the PARTNERSHIP) for the purpose of, in accordance with the LAWS of [STATE]. The PARTNERSHIP shall operate under the name of [BUSINESS NAME]. The PARTNERSHIP shall begin on the EFFECTIVE DATE of 28.06.2021. The PARTNERSHIP shall last for a TERM of [DURATION].