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Attorney Partnership Agreement

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Attorney Partnership Agreement Powered By Docstoc
					This partnership agreement is an agreement between two or more attorneys to create a
legal partnership between them. The legal partnership is governed by this partnership
agreement and sets out the duties and the rights and responsibilities of each partner. It
also provides provisions for the death of one of the partners, how decisions will be made
and the financial contributions by each partner. This document should be used at the
outset of an attorney partnership to set forth the duties and responsibilities of each
attorney partner.
                          LAW PARTNERSHIP AGREEMENT

This agreement (the “Agreement”) is made this ____day of ___ _____, 20___, by and between
______________________ (hereinafter referred to as the "Party One"), with a principal place of
business at _____________________, and __________________________, (hereinafter referred
to as the "Party Two"), with a principal place of business at _____________________________,
collectively referred to as the “Partners.” [Instruction: Insert the last name of each party to
this Agreement in place of “Party One” and “Party Two”, and add more parties if more than
two partners]

               WHEREAS the Partners have decided to enter into a Partnership for the purpose
of carrying on the business of a law partnership hereinafter set forth in this Agreement.

               AND WHEREAS the parties wish to establish and define their respective rights
and obligations specifically with regards to:

                  (a) the operation of the Partnership;

                  (b) the death of one of the Partners;

                  (c) disagreement among the Partners;

                  (d) disability of one of the Partners;

the rights and obligations of each party are heretofore set forth.

               NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration
of the mutual covenants and agreements herein contained, the parties hereto for themselves, their
heirs, executors, administrators or assigns mutually declare, covenant and agree as follows:

I.                PARTNERSHIP

1.01         The Partnership described above is hereby established and constituted the _____
day of _____________, 20___.

1.02            The Partners hereby agree to become and remain partners in the business with
such incidental operations as the maintenance of records and the purchase and disposition of
property as may be necessary to the operation of the business and in such other businesses of a
similar or related nature as may be approved by each and every partner.

1.03        The Partnership shall be carried on at the premises situated at
_______________________ or such other place as the Partners shall from time to time mutually
agree upon.




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1.04            The name of the firm shall be _________________________ unless a change
shall be agreed to by all Partners and shall be used exclusively by the Parties during the term of
the Partnership and shall not be used by any of the Partners individually at any time without the
consent of the other Partners. No Partner shall be entitled to use all or any part of the name in
connection with a practice of law in the State of ____________________ unless a Partner whose
surname forms part of the firm name ceases for any reason to be an active Partner in the firm, in
which case he shall be entitled to practice under a name of which his own name forms part and,
if he does so practice and there is no other Partner remaining in the firm subject to this
Agreement whose name is the same as the Partner who had ceased to be an active Partner, such
name shall be dropped from the firm name. Where the name of a retired or deceased Partner is
continued as part of the firm name, the remaining Partners do hereby agree to indemnify and
save the retired Partner or his estate from any liability resulting from any ostensible continuance
in the Partnership that may be implied by the use of his name.

1.05          The first fiscal period of the Partnership shall terminate on the _____ ( ) day of
________________, 20__ and thereafter the fiscal year of the Partnership shall terminate on the
___ day of _____________ in each succeeding year.

1.06            The bank of the Partnership shall be _____________________, located at [Insert
name of branch and address of bank] and any other such bank as all the Partners may from
time to time agree upon in writing. All checks, drafts and other instruments and documents on
behalf of the Partnership shall be signed by any one of the Partners provided that any instrument
obligating the Partnership or another party on behalf of the Partnership, to pay an amount in
excess of ____________ ($______) Dollars shall be signed by all of the Partners. All
Partnership money shall, as and when received, be paid and deposited with the bank of the
Part
				
DOCUMENT INFO
Description: This partnership agreement is an agreement between two or more attorneys to create a legal partnership between them. The legal partnership is governed by this partnership agreement and sets out the duties and the rights and responsibilities of each partner. It also provides provisions for the death of one of the partners, how decisions will be made and the financial contributions by each partner. This document should be used at the outset of an attorney partnership to set forth the duties and responsibilities of each attorney partner.
This document is also part of a package Starting a Law Firm 6 Documents Included