What is Partnership Agreement?
A definition of Partnership Agreement
“A partnership agreement is a written contract between two or more business partners that outlines the roles, responsibilities, and profit sharing among them.”

Business Glossary > What is Partnership Agreement?
Examples of Partnership Agreement in a Sentence:
We signed a partnership agreement to launch the new startup together.
The partnership agreement specifies how decisions will be made.
Without a partnership agreement, disputes can easily arise among partners.
Why is Partnership Agreement Important in Business?
A partnership agreement is crucial as it provides a clear framework for partners, helping avoid conflicts by clearly defining roles, responsibilities, and profit-sharing arrangements. It ensures smooth operations and helps protect the interests of all involved parties.
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Associated Terms
Here are some associated business terms and synonyms for “Partnership Agreement”:
- Partnership Contract
- Business Partnership Agreement
- Joint Venture Agreement
Google Partnership Agreement
Google entered a partnership agreement with NASA in 2005 to collaborate on R&D and new technology innovations. This agreement allowed both entities to leverage each other’s resources and expertise, creating a tremendous impact in various research fields.
Final Notes on Partnership Agreement
When drafting a partnership agreement, partners should consider:
- Roles and responsibilities
- Profit and loss sharing
- Dispute resolution mechanisms
- Duration and termination conditions
Having a well-structured agreement helps prevent misunderstandings and ensures the business operates smoothly.
This has been a definition of Partnership Agreement meaning.
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