This partnership worksheet can be used to organize details about a new or existing partnership.
- Forming a new partnership
- Clarifying roles and responsibilities in an existing partnership
Organizing your business as a partnership has great potential benefits. Partners can pool their capital, labor, or skills into a business that they own together, giving the new enterprise a solid foundation and setting it off to a great start. However, working with people – even friends and family – can get difficult, and it is always a good idea to have a formal plan before you enter into a jointly-owned business.
This partnership worksheet is a great place to start if you are considering participating in a business partnership. The partnership worksheet will guide you through making important decisions, such as how each partner will contribute and what they are entitled to in return. Having a solid plan for your new partnership will place your new venture on a good foundation and help avoid conflict in the future.
This partnership worksheet should be the first thing an entrepreneur works through when considering a new partnership. Having a solid plan is foundational to the success of any co-owned business, and it helps entrepreneurs be prepared for common business scenarios that arise within partnerships.