How do I create a partnership?

Help with starting a partnership and in creating an online, lawyer drafted Partnership agreement

A partnership is formed when two or more individuals (which can include legal entities, such as limited companies) agree that they form a partnership. There are no other formalities that need to occur.

However, without a 'Partnership agreement' stating the rules and responsibilities within a partnership, all the rules of the partnership will be set out by the 1890 Partnership Act. As the majority of partnerships prefer to operate under their own rules, they use a partnership agreement to formalise the structure in the way they want to run their business.

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The information on this page applies to England and Wales only.

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