Read the document to make sure it meets your needs and that everyone involved agrees with the partnership agreement. Remember that if you have any questions you can easily Ask a lawyer.
Remember to appoint a managing director if you choose to have one.
The partnership agreement is a special type of contract called a 'deed'. This means it must be signed in a special way:
Print a copy for each partner (the parties). You must print a copy of your deed and sign it physically. Deeds can legally be signed using electronic signatures, but extra care must be taken when signing electronically to ensure that all of the formalities for execution of the particular type of deed are met. This deed is, therefore, designed to be signed by hand (ie ‘wet-signed’) to ensure that it is executed correctly. You cannot sign online.
The partners must sign each copy in the presence of a witness.
The witnesses must sign and add their name, address, occupation and the date directly underneath the signature of the party they are witnessing.
The date of the agreement is the date on which the parties signed if that was the same day. If they signed on different days, then it is the day when the last person signed.
A copy of the partnership agreement will be stored under "My Documents" in your Rocket Lawyer account.
Each partner should keep their own signed original of the agreement.