Ƶ

Partnership Settlement Agreement for the United Kingdom

Partnership Settlement Agreement Template for England and Wales

A Partnership Settlement Agreement is a legally binding document under English and Welsh law that formalizes the terms and conditions for dissolving or restructuring a partnership. It sets out the rights and obligations of all parties involved, including the distribution of assets, allocation of liabilities, and arrangements for ongoing business operations. The agreement is governed by the Partnership Act 1890 and related legislation, providing a comprehensive framework for partner separation while minimizing potential disputes and ensuring clear documentation of all agreed terms.

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
Partnership Settlement Agreement

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

What is a Partnership Settlement Agreement?

The Partnership Settlement Agreement is used when partners decide to end their business relationship or significantly restructure their partnership arrangement. This document, governed by English and Welsh law, provides a comprehensive framework for managing the separation process, including asset distribution, liability allocation, and future business arrangements. It helps prevent future disputes by clearly documenting all agreed terms and conditions, ensuring compliance with the Partnership Act 1890 and other relevant legislation. The agreement is particularly crucial for protecting all parties' interests and maintaining business continuity during the transition period.

What sections should be included in a Partnership Settlement Agreement?

1. Parties: Details of all partners involved in the settlement

2. Background: History of partnership and reasons for settlement

3. Definitions: Key terms used throughout the agreement

4. Settlement Terms: Core terms of the settlement including financial arrangements

5. Asset Distribution: Division of partnership assets and liabilities

6. Release of Claims: Mutual releases between partners

7. Confidentiality: Confidentiality obligations regarding partnership matters

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

1. Employee Arrangements: Terms regarding existing employees - use when partnership has employees

2. Intellectual Property: Distribution of IP rights - use when partnership owns intellectual property

3. Client Transition: Arrangements for transitioning clients - use for professional service partnerships

4. Non-Compete Provisions: Restrictions on future business activities - use when partners agree to post-settlement restrictions

What schedules should be included in a Partnership Settlement Agreement?

1. Schedule 1: Asset Register: Complete list of partnership assets and their agreed values

2. Schedule 2: Client List: List of clients and their allocation between partners

3. Schedule 3: Outstanding Liabilities: List of all partnership debts and payment responsibilities

4. Schedule 4: Payment Schedule: Timeline and details of settlement payments

5. Appendix A: Partnership Accounts: Final partnership accounts and financial statements

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 defining partnerships, partners' rights and obligations, dissolution procedures, and default rules for asset distribution

Limited Partnerships Act 1907: Governs the formation and operation of limited partnerships, applicable if the partnership is a limited partnership structure

Limited Liability Partnerships Act 2000: Regulates Limited Liability Partnerships (LLPs), applicable if the partnership is structured as an LLP

Companies Act 2006: Relevant for matters involving corporate structure, particularly if converting to or from a company structure

Income Tax Act 2007: Key legislation governing taxation of partnership income and distributions

Taxation of Chargeable Gains Act 1992: Regulates the taxation of capital gains in partnership contexts

Employment Rights Act 1996: Relevant when the partnership has employees, governing employment rights and obligations

Equality Act 2010: Ensures non-discrimination and equal treatment in partnership arrangements and operations

Law of Property Act 1925: Governs property rights and transfers within partnership contexts

Law of Property (Miscellaneous Provisions) Act 1989: Contains provisions affecting property transactions and formal requirements for certain types of contracts

Data Protection Act 2018: Regulates the handling of personal data, including partner and employee information, implementing GDPR requirements in UK law

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.

find out more

Vacation Home Partnership Agreement

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

find out more

Trucking Partnership Agreement

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

find out more

Term Sheet For Partnership Agreement

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

find out more

Temporary Partnership Agreement

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

find out more

Technology Partnership Agreement

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

find out more

Technical Partnership Agreement

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

find out more

Strategic Technology Partnership Agreement

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

find out more

Strategic Alliance Partnership Agreement

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

find out more

Startup Partnership Agreement

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

find out more

Standard Partnership Agreement

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

find out more

Sponsorship Partnership Agreement

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

find out more

Software Partnership Agreement

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

find out more

Software Partner Agreement

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

find out more

Shareholders Agreement Joint Venture

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

find out more

Service Partner Agreement

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

find out more

Simple 50 50 Partnership Agreement

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

find out more

Simple Partnership Dissolution Agreement

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

find out more

Simple Limited Partnership Agreement

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

find out more

Restaurant Profit Sharing Agreement

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

find out more

Revenue Share Partnership Agreement

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

find out more

Secret Partner Agreement

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

find out more

Sales Cooperation Agreement

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

find out more

Salaried Partner Agreement

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

find out more

Real Estate Limited Partnership Agreement

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

find out more

Real Estate Joint Venture Agreement

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

find out more

Real Estate Channel Partner Agreement

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

find out more

Property Partnership Agreement

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

find out more

Profit Sharing Ratio Partnership Agreement

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

find out more

Profit Sharing Agreement In Business Partnership

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

find out more

Profit And Loss Partnership Agreement

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

find out more

Production Partnership Agreement

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

find out more

Product Partnership Agreement

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

find out more

Preliminary Partnership Agreement

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

find out more

Preferred Partnership Agreement

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

find out more

Preferred Partner Agreement

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

find out more

Pre Partnership Agreement

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

find out more

Photography Partnership Agreement

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

find out more

Pharmacy Partnership Agreement

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

find out more

Partnership Subscription Agreement

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

find out more
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