Create a Simple Partnership Deed in Minutes
Define rights, responsibilities, and profit-sharing clearly for smooth business operations.
What is a Simple Partnership Deed?
A Simple Partnership Deed is a written agreement between two or more individuals who agree to run a business together and share its profits and losses. It outlines the terms of the partnership, including the rights, duties, capital contributions, profit-sharing ratio, and responsibilities of each partner. This document serves as a clear guide to avoid misunderstandings and disputes, ensuring smooth business operations and legal protection for all partners involved.
Why a Simple Partnership Deed is Important
- Prevents misunderstandings between partners
- Clearly defines rights and responsibilities
- Specifies profit and loss sharing ratio
- Provides legal protection in disputes
- Ensures smooth and transparent business operations
Who Needs a Simple Partnership Deed
- Small businesses with two or more partners
- Startups with multiple founders
- Professional service firms (lawyers, accountants, consultants, etc.)
- Family-run businesses
- Existing partnerships formalizing their agreement
- Businesses planning future growth or restructuring
Benefits of a Simple Partnership Deed
- Clarity in business operations – Clearly defines roles, responsibilities, and profit-sharing.
- Prevents disputes – Minimizes misunderstandings among partners.
- Legal protection – Acts as evidence in case of disagreements or legal issues.
- Smooth decision-making – Defines rules for decision-making and dispute resolution.
- Business continuity – Provides guidelines for dissolution or change in partnership.
- Trust building – Strengthens confidence among partners with clear agreements.
Key Contents of a Simple Partnership Deed
Name of the Firm
The official name under which the partnership will operate.
Names & Addresses of Partners
Full details of all partners involved.
Business Objectives
Purpose and nature of the business.
Capital Contribution
Amount and type of capital contributed by each partner.
Profit & Loss Sharing Ratio
How profits and losses will be divided.
Roles & Duties of Partners
Specific responsibilities of each partner.
Duration of Partnership
Fixed term or ongoing arrangement.
Terms for Dissolution
Conditions under which the partnership will end.
Dispute Resolution Mechanism
Method to resolve conflicts among partners.
Amendment Clause
Procedure for making changes to the deed.
Documents Required for a Simple Partnership Deed
- Identity Proof of Partners – PAN card, Aadhaar card, passport, or voter ID.
- Address Proof of Partners – Aadhaar card, passport, voter ID, utility bill, or rental agreement.
- Partnership Deed Draft – Drafted agreement outlining terms of partnership.
- Business Address Proof – Rental agreement, electricity bill, or property ownership document.
- Photographs of Partners – Passport-size photographs of all partners.
- PAN Card of Firm – If applicable for tax purposes.
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Quick Turnaround
Fast and reliable service to meet deadlines.
Complete Compliance
Ensuring your documents meet legal standards.
Frequently Asked Questions
Is a partnership deed mandatory?
A partnership deed is not legally mandatory under the Indian Partnership Act, but it is highly recommended to avoid disputes and ensure smooth operations.
Can a partnership deed be amended later?
Yes, the deed can be amended with the mutual consent of all partners and proper documentation.
How long does partnership deed registration take?
Registration usually takes 7–15 working days, depending on the complexity and documentation.
Do all partnerships need to register their deed?
No, registration is optional, but a registered deed provides stronger legal protection and proof in case of disputes.
Start Your Partnership on a Strong Legal Foundation
Ensure clarity, avoid disputes, and protect your business with a professionally drafted Simple Partnership Deed.