Ƶ

Informal Partnership Agreement for the United Kingdom

Informal Partnership Agreement Template for England and Wales

An Informal Partnership Agreement is a legal document governed by English and Welsh law that establishes the terms and conditions between two or more individuals who wish to carry on business together with a view to profit. It outlines the partners' rights, responsibilities, profit-sharing arrangements, and management structure while providing a framework for the business relationship that complies with the Partnership Act 1890.

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.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Informal Partnership Agreement

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Informal Partnership Agreement?

The Informal Partnership Agreement is essential for businesses where two or more individuals wish to collaborate without establishing a formal company structure. This document, governed by English and Welsh law, sets out the fundamental aspects of the partnership including capital contributions, profit sharing, management responsibilities, and decision-making processes. It provides clarity and legal protection while maintaining flexibility, making it particularly suitable for small businesses and professional practices. The agreement should comply with the Partnership Act 1890 and related legislation.

What sections should be included in a Informal Partnership Agreement?

1. Parties: Details of all partners entering the agreement, including full names and addresses

2. Background: Context of the partnership formation and business purpose

3. Definitions: Key terms used throughout the agreement including relevant legislation such as Partnership Act 1890

4. Partnership Business: Description of the business activities and scope

5. Capital Contributions: Details of initial and ongoing capital contributions by partners

6. Profit and Loss Sharing: Agreement on how profits and losses will be distributed

7. Management and Decision Making: Process for business decisions and day-to-day management

8. Duration: Term of the partnership and renewal provisions

What sections are optional to include in a Informal Partnership Agreement?

1. Banking Arrangements: Details of partnership bank accounts and signing authority

2. Intellectual Property: Ownership and use of IP within the partnership

3. Non-compete Provisions: Restrictions on partners' other business activities

4. Insurance: Required insurance coverage and minimum requirements

What schedules should be included in a Informal Partnership Agreement?

1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial contribution

2. Schedule 2: Business Plan: Initial business plan and projections

3. Schedule 3: Partner Responsibilities: Specific roles and duties of each partner

4. Schedule 4: Partnership Assets: List of assets owned by the partnership at formation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions

























Clauses





























Industries

Partnership Act 1890: Primary legislation governing partnerships in England and Wales. Defines partnerships, establishes basic rights and obligations of partners, and provides default provisions that apply unless explicitly varied by agreement.

Law of Property Act 1925: Key legislation governing how partnership property is held and managed between partners. Essential for understanding property rights within the partnership structure.

Limited Liability Partnerships Act 2000: While not directly applicable to informal partnerships, provides important context for understanding the distinction between different partnership types in English law.

Civil Partnership Act 2004: May be relevant in cases where partners are also in a civil partnership, affecting the interpretation of their business relationship.

Business Names Act 1985: Governs the naming conventions and requirements for partnerships operating in England and Wales.

Partnership (Accounts) Regulations 2008: Specifies the financial reporting requirements and obligations for partnerships.

Common Law Duties: Includes fiduciary duties and duty of good faith between partners, established through case law and legal precedent.

HMRC Regulations: Tax-related requirements including partnership tax treatment, VAT registration, and self-assessment obligations.

Data Protection Act 2018/UK GDPR: Relevant if the partnership handles personal data, establishing data protection obligations and compliance requirements.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Venture Partner Agreement

An England & Wales agreement formalizing venture capital partnerships, detailing roles, responsibilities, and compensation.

Download

Vacation Home Partnership Agreement

An England & Wales legal document outlining co-ownership terms for a shared vacation property.

Download

Trucking Partnership Agreement

An England & Wales legal document outlining partnership terms for trucking operations, ensuring compliance and profit sharing.

Download

Term Sheet For Partnership Agreement

An England & Wales document outlining initial terms for a partnership, guiding final agreement negotiations.

Download

Temporary Partnership Agreement

An England & Wales legal document outlining terms for a temporary project-specific business collaboration.

Download

Technology Partnership Agreement

An England & Wales legal agreement formalizing technological collaboration, addressing IP, confidentiality, and compliance.

Download

Technical Partnership Agreement

An England & Wales legal document outlining terms for technical collaboration and intellectual property management.

Download

Strategic Technology Partnership Agreement

An England & Wales legal agreement for technological collaboration, addressing data protection, IP rights, and cybersecurity.

Download

Strategic Alliance Partnership Agreement

An England & Wales legal document formalizing collaborative ventures while maintaining independent legal status for organizations.

Download

Startup Partnership Agreement

An England & Wales legal document outlining partners' rights and duties in a new business venture.

Download

Standard Partnership Agreement

An England & Wales legal document defining partnership terms, modifying default rules under the Partnership Act 1890.

Download

Sponsorship Partnership Agreement

An England & Wales contract detailing sponsorship terms, rights, and obligations for commercial partnerships.

Download

Software Partnership Agreement

An England & Wales legal contract formalizing software development partnerships, detailing rights, responsibilities, and dispute resolution.

Download

Software Partner Agreement

An England & Wales legal agreement for software distribution and partnership roles, responsibilities, and compliance.

Download

Shareholders Agreement Joint Venture

An England & Wales legal document outlining governance and rights in a joint business venture.

Download

Service Partner Agreement

An England & Wales agreement formalizing service delivery partnerships with external providers, detailing scope, standards, and compliance.

Download

Simple 50 50 Partnership Agreement

An England & Wales legal document establishing equal partnership rights and responsibilities for business ventures.

Download

Simple Partnership Dissolution Agreement

An England & Wales legal document detailing terms for amicable partnership dissolution and asset distribution.

Download

Simple Limited Partnership Agreement

An England & Wales legal document outlining roles and liabilities in a limited partnership agreement.

Download

Restaurant Profit Sharing Agreement

An England & Wales agreement outlining profit distribution terms for restaurant owners, investors, and employees.

Download

Revenue Share Partnership Agreement

An England & Wales agreement detailing revenue-sharing terms for collaborative business ventures.

Download

Secret Partner Agreement

An England & Wales legal document ensuring partner anonymity while participating in business profits and decisions.

Download

Sales Cooperation Agreement

An England & Wales legal document formalizing sales collaboration through agents or distributors, detailing roles and financial terms.

Download

Salaried Partner Agreement

An England & Wales agreement outlining terms for salaried partners in professional services firms.

Download

Real Estate Limited Partnership Agreement

An England & Wales legal document outlining terms for pooled real estate investment with limited liability.

Download

Real Estate Joint Venture Agreement

An England & Wales legal document outlining terms for joint real estate ventures, including ownership and profit distribution.

Download

Real Estate Channel Partner Agreement

An England & Wales legal agreement outlining terms for property sales through authorized channel partners.

Download

Property Partnership Agreement

An England & Wales legal document outlining joint property investment terms, rights, and obligations among partners.

Download

Profit Sharing Ratio Partnership Agreement

An England & Wales legal document formalizing customized profit-sharing arrangements in business partnerships.

Download

Profit Sharing Agreement In Business Partnership

An England & Wales legal document outlining profit distribution and responsibilities in a business partnership.

Download

Profit And Loss Partnership Agreement

An England & Wales legal document outlining profit and loss sharing in business partnerships.

Download

Production Partnership Agreement

An England & Wales legal document outlining terms for joint production ventures, including governance and profit distribution.

Download

Product Partnership Agreement

An England & Wales legal document formalizing product collaboration terms between businesses in manufacturing, distribution, or sales.

Download

Preliminary Partnership Agreement

An England & Wales legal document outlining preliminary terms for forming a business partnership.

Download

Preferred Partnership Agreement

An England & Wales agreement formalizing strategic business partnerships with preferential rights and compliance provisions.

Download

Preferred Partner Agreement

An England & Wales legal document formalizing strategic partnerships with key suppliers under preferential terms.

Download

Pre Partnership Agreement

An England & Wales legal document outlining preliminary terms before formal partnership formation, ensuring confidentiality and exclusivity.

Download

Photography Partnership Agreement

An England & Wales legal agreement formalizing a business partnership between photography professionals, detailing rights and responsibilities.

Download

Pharmacy Partnership Agreement

An England & Wales legal document outlining a joint pharmacy business partnership's framework and regulatory compliance.

Download

Partnership Subscription Agreement

An England & Wales legal document outlining terms for a new partner joining an existing partnership.

Download
See more related templates

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