The Informal Partnership Agreement serves as a foundational document for businesses in Australia seeking to establish a partnership structure without the formalities of a company formation. This document is particularly suitable for small business owners, professionals, and entrepreneurs who wish to combine their resources and expertise while maintaining operational flexibility. The agreement addresses key partnership aspects including capital contributions, profit sharing, management rights, and dispute resolution, all within the framework of Australian partnership law. It's designed to be adaptable across various business sectors while ensuring compliance with both state-based partnership acts and federal regulations. Partners should consider this agreement type when they want a clear structure for their business relationship without the complexity and cost of forming a corporation.
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.
OR
Let tiktok˰'s market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification and details of all partners entering into the agreement
2. Background: Context of the partnership formation and partners' intention to work together
3. Definitions: Key terms used throughout the agreement
4. Partnership Formation: Declaration of partnership, commencement date, and business name
5. Nature of Business: Description of the partnership's business activities and scope
6. Capital Contributions: Initial and ongoing capital contributions from each partner
7. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners
8. Management and Decision Making: Partners' roles, responsibilities, and voting rights in business decisions
9. Banking and Financial Records: Management of partnership finances and maintenance of accounts
10. Partner Duties and Obligations: Partners' commitments, loyalty obligations, and restrictions
11. Addition and Retirement of Partners: Process for admitting new partners or handling partner retirement
12. Dissolution and Termination: Circumstances and procedures for ending the partnership
13. Dispute Resolution: Process for resolving disagreements between partners
14. Governing Law: Specification that the agreement is governed by Australian law
1. Intellectual Property Rights: Ownership and management of IP created during the partnership - include when IP is relevant to the business
2. Non-Competition and Confidentiality: Restrictions on competing activities and handling of confidential information - include for knowledge-based businesses
3. Insurance: Required insurance coverage for the partnership - include for high-risk businesses
4. Partner Drawings: Rules for regular withdrawal of funds by partners - include when partners plan regular drawings
5. Working Capital: Provisions for ongoing funding requirements - include for businesses with significant operating costs
6. Death or Incapacity: Procedures following death or incapacity of a partner - include for long-term partnerships
7. External Activities: Rules about partners' involvement in other businesses - include when partners have other business interests
1. Schedule A - Capital Contributions: Detailed list of initial capital contributions from each partner
2. Schedule B - Profit Sharing Ratios: Specific percentages or formulas for profit and loss distribution
3. Schedule C - Partner Details: Complete contact information and other relevant details of all partners
4. Schedule D - Business Plan: Initial business plan and objectives of the partnership
5. Schedule E - Asset Register: List of partnership assets and their agreed values
6. Appendix 1 - Operating Procedures: Day-to-day operational guidelines and procedures
7. Appendix 2 - Signing Authorities: Details of partners' authority levels for various decisions
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Retail
Consulting
Real Estate
Food and Beverage
Creative Industries
Technology
Construction
Healthcare
Agriculture
Small Manufacturing
Trading
Education and Training
Relevant Teams
Legal
Finance
Operations
Business Development
Executive Leadership
Commercial
Risk and Compliance
Corporate Affairs
Business Advisory
Partnership Management
Relevant Roles
Business Owner
Managing Partner
General Partner
Executive Director
Small Business Operator
Professional Practitioner
Entrepreneur
Business Development Manager
Legal Counsel
Chief Executive Officer
Chief Financial Officer
Operations Manager
Partnership Manager
Business Advisor
Commercial Manager
Find the exact document you need
Precedent Partnership Agreement
Australian Partnership Agreement template for establishing and governing business partnerships, compliant with Australian partnership laws and regulations.
find out more
Limited Partnership Subscription Agreement
An Australian-law governed agreement for investing in a limited partnership as a Limited Partner, setting out subscription terms and regulatory compliance requirements.
find out more
Budget Partnership Agreement
An Australian legal agreement establishing terms for joint budget management and financial collaboration between partners.
find out more
Limited Partners Agreement
An Australian legal agreement establishing a limited partnership structure between managing General Partners and investing Limited Partners, governed by Australian partnership law and regulations.
find out more
Domestic Partner Agreement
An Australian law-governed agreement establishing rights and obligations between domestic partners, including financial and personal arrangements.
find out more
Partnership Agreement Between Two Companies
An Australian legal agreement establishing a business partnership between two companies, governed by federal and state partnership laws.
find out more
Simple Collaboration Agreement
An Australian law-governed agreement establishing terms and conditions for collaboration between multiple parties, defining roles, responsibilities, and mutual obligations.
find out more
Non Binding Partnership Agreement
An Australian jurisdiction document that outlines intended partnership arrangements between parties while maintaining a non-binding legal status.
find out more
Letter Of Intent Partnership Agreement
An Australian-compliant preliminary document outlining intended partnership terms and conditions, serving as a framework for negotiating a formal partnership agreement.
find out more
Letter For Partnership Agreement
An Australian-compliant formal letter establishing a business partnership arrangement, outlining key terms and conditions in a concise, personal format.
find out more
Salaried Partnership Agreement
An Australian law-governed agreement establishing the terms for appointing a salaried partner, defining their rights, responsibilities, and relationship with the partnership.
find out more
Brand Partnership Contract
An Australian law-governed agreement establishing terms and conditions for brand collaboration between parties, including IP rights, marketing obligations, and compliance requirements.
find out more
Social Media Partnership Agreement
An Australian-compliant agreement governing social media marketing partnerships between businesses and influencers, addressing content, compensation, and regulatory requirements.
find out more
Partnership License Agreement
An Australian-law governed agreement establishing partnership terms and licensing arrangements between parties, including rights usage and revenue sharing structures.
find out more
Formal Partnership Agreement
An Australian-law governed agreement establishing the terms and conditions between business partners, including rights, responsibilities, and operational procedures.
find out more
Buy Sell Agreement Between Business Partners
An Australian-compliant agreement establishing terms for business ownership transfers between partners, including valuation methods and triggering events.
find out more
Technology Partnership Agreement
An Australian law-governed agreement establishing terms and conditions for technology-related partnerships between organizations, covering IP rights, data protection, and operational procedures.
find out more
Startup Partnership Agreement
An Australian law-governed agreement establishing partnership terms between startup founders, covering ownership, management, and operational framework.
find out more
Software Partnership Agreement
An Australian-law agreement establishing a partnership for software development, distribution, or commercialization, covering technical, commercial, and legal aspects of the collaboration.
find out more
Software Partner Agreement
An Australian-law governed agreement establishing a business partnership between a software provider and their partner for software distribution or implementation services.
find out more
Sponsorship Partnership Agreement
An Australian law-governed agreement establishing sponsorship partnership terms, rights, and obligations between sponsor and recipient.
find out more
Simple 50 50 Partnership Agreement
An Australian-compliant agreement establishing a 50-50 partnership between two parties, defining equal rights, responsibilities, and profit sharing arrangements.
find out more
Simple Partnership Dissolution Agreement
An Australian law-governed agreement that formally dissolves a business partnership and sets out terms for winding up partnership affairs.
find out more
Simple Limited Partnership Agreement
An Australian legal agreement establishing a limited partnership structure with defined roles for general and limited partners, including capital contributions and management rights.
find out more
Revenue Share Partnership Agreement
An Australian-law governed agreement establishing terms for business partners to share revenue from joint business activities, including calculation methods and partnership obligations.
find out more
Restaurant Profit Sharing Agreement
An Australian-compliant agreement establishing profit-sharing arrangements between parties in a restaurant business, outlining financial distribution and operational responsibilities.
find out more
Real Estate Limited Partnership Agreement
An Australian-law governed agreement establishing a limited partnership structure for real estate investments, defining partner relationships and operational parameters.
find out more
Real Estate Joint Venture Agreement
An Australian law-governed agreement establishing a joint venture between parties for real estate investment, development, or management purposes.
find out more
Profit Sharing Ratio Partnership Agreement
An Australian law-governed agreement establishing partnership terms and profit-sharing arrangements between partners, including operational and financial frameworks.
find out more
Preliminary Partnership Agreement
An Australian-law governed agreement establishing preliminary terms and conditions between potential business partners while they evaluate a formal partnership arrangement.
find out more
Preferred Partnership Agreement
An Australian law-governed agreement establishing a preferred partnership arrangement between entities, defining preferential business terms and mutual obligations.
find out more
Pre Partnership Agreement
An Australian law-governed agreement that establishes terms and conditions for parties exploring a potential business partnership, protecting all parties during the preliminary phase.
find out more
Partnership Non Disclosure Agreement
An Australian-law governed Non-Disclosure Agreement for protecting confidential information in partnership arrangements.
find out more
Partnership Framework Agreement
An Australian law-governed agreement establishing the framework for business partnerships, including key terms, management structure, and partner obligations.
find out more
Partnership Contract Agreement
An Australian-law governed agreement establishing a formal partnership structure, defining partners' rights, responsibilities, and operational framework.
find out more
Partnership Buy In Agreement
An Australian law-governed agreement facilitating the admission of a new partner into an existing partnership, outlining buy-in terms, rights, and obligations.
find out more
Partner Exit Agreement
An Australian-compliant agreement governing a partner's exit from a partnership, including financial settlements, obligations, and post-exit arrangements.
find out more
Nonprofit Partnership Agreement
An Australian law-governed agreement establishing a formal partnership between nonprofit organizations, outlining collaboration terms and regulatory compliance requirements.
find out more
Non Equity Partner Agreement
An Australian legal agreement establishing the terms and conditions for non-equity partners in professional firms, defining their rights and responsibilities without equity ownership.
find out more
Memorandum Of Understanding Between Two Partners
An Australian law-compliant Memorandum of Understanding template for establishing partnership intentions between two parties while maintaining a non-binding nature.
find out more
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
.png)