ContractsCounsel Logo
Home Blog Partnership Agreement Cost

Jump to Section

How Much Does a Partnership Agreement Cost?

Based on ContractsCounsel’s marketplace data, the average cost of a project involving a partnership agreement is $780.00 [1].

Partnership agreement cost depends on many variables, which includes the service requested, number of partners, and the number of custom terms needed to be included in the document.

Average Cost Data from Lawyers on ContractsCounsel

All Partnership Agreement Projects:
Drafting a Partnership Agreement:
Reviewing a Partnership Agreement:

Based on 57 recent projects completed by lawyers on ContractsCounsel.

Last updated: 23 May, 2024

What is a Partnership Agreement?

Partnership agreements are legal legally binding documents that outline business practices for the partners of a company. Partnership agreements establish how a company will be managed, ownership, profit and loss distribution, and partner responsibilities.

Getting help from a partnership agreement lawyer to draft a partnership agreement is highly encouraged since these are important documents that outline how a business partnership will run and are key to their success. Partnership agreements are also important to clearly outline terms between partners to avoid future business disputes.

See Partnership Agreement Pricing by State

What’s Typically Included in a Partnership Agreement

Below are the key sections that are typically included in a partnership agreement.

  • Name. This section includes the name of the business.
  • Purpose. This section includes the service or product the business provides to customers.
  • Partners’ Info. This section outlines the information about each of the partners involved in the business.
  • Capital Contributions. This section establishes how much capital each partner will be contributing to the business.
  • Ownership. This section shows the percentage each partner owns of the company.
  • Profit and Loss Distribution. This section explains how profits and losses will be handled between the partners.
  • Management and Voting. This section shows the roles and responsibilities of each partner, along with how the company handles voting on issues.
  • Adding or Removing Partners. This section establishes a protocol for adding or removing partners from the partnership.
  • Dissolution. This section establishes how the company will be dissolved if the partners decide to shut it down.
  • Tax Election. This section establishes which partner will handle all tax communications.
  • Death or Disability. This section establishes what happens if there is a death or a partner becomes disable from participating in the business.

Types of Partnerships

Partnership agreements can vary greatly depending on the type of partnership set up, as well as the terms needing to be included in the document. Below is a list of the types of partnerships to consider, all of which have their own pros and cons.

  • General Partnership. This type of partnership has all partners equally sharing liabilities, profits, and assets.
  • Limited Partnership. Limited partnerships are good options for when partners do not contribute the same amount of capital. Partners that contribute more capital will benefit more in the upside and downside of the business performance.
  • Limited Liability Partnership. This type of partnership gives partners limited personal liability while maintaining equal shares in the company.

Examples of Partnership Agreement Projects

Partnership Agreement Drafting Service

Many business partners will hire a knowledgeable lawyer to help consult and draft a partnership agreement that fits the requirements of their business. This is where the business will incur partnership agreement costs.

Partnership agreement drafting typically involves a consultation with the business partners to learn about the terms they want include in the agreement, then implementing those terms into a partnership agreement template to make sure it includes everything the business needs. Partnership agreement costs can vary based on how many custom terms need to be included in the document.

Reasons you may need to find a lawyer to draft an operating include:

  • Forming a New Partnership. You may want to form a new partnership and need to draft a partnership agreement from scratch.
  • Partners Want Custom Terms. A set of business partners may need to hire a lawyer if they know they have very custom terms that won’t fit in their current partnership agreement template.

Get Free Bids to Compare

Leverage our network of lawyers, request free bids, and find the right lawyer for the job.

Get Bids Now

Partnership Agreement Review Service

In some circumstances, partners may have an existing partnership agreement template that was signed when they started the business. Given the fact that businesses evolve, they may require a lawyer to review the current partnership agreement in order to answer questions or implement updates.

Reasons you may need to find a lawyer to review a partnership agreement include:

  • Make Sure It Fits Your Business. Partners may have used a template but want to get it double checked by a lawyer to make sure it has everything they need.
  • Update the Agreement with New Terms. As a business grows, partners my require new terms or updates to their current partnership agreement.
  • Independent Partner Review. The partnership agreement may have been drafted by one of the partner’s lawyers, but an individual partner may want to review it with a separate lawyer to make sure they are protected.
  • Partner Has Questions. One of the partners may have a question about their obligations or rights, and may hire a lawyer to independently review the partnership agreement they signed.
  • Major Change in Partnership. The business may be expecting a major upcoming change and need to get the partnership agreement reviewed to see if the change had any implications on the business.

Breach of Partnership Agreement

Relationships between business partners can sour over time which may lead to a potential breach of contract by one of the parties. Any breach of contract will require a review of the partnership agreement and an analysis as to whether any of the terms were breached, which may lead to a business dispute.

Examples of when you may need to review a partnership agreement for a potential breach of contract include:

  • Partner Has Taken Too Large of a Partner Draw. A partner may have violated the partnership agreement by taking too much money out of the business.
  • Partner Fails Capital Contribution Requirements. A partner doesn’t live up to the capital contribution requirements outlined in the agreement.
  • Partner Made an Unauthorized Decision to Harm the Business. A partner may have made a bad decision that he or she was not allowed to make, which could lead to a breach of contract.

How Much Does it Cost to Draft a Partnership Agreement?

Drafting a partnership agreement comes with costs, since it requires the time of a trained lawyer to complete the project.

ContractsCounsel’s marketplace data shows the average partnership agreement drafting costs to be $830.00 across all states and industries.

How Much Does it Cost to Review an Existing Partnership Agreement?

Hiring a lawyer to review a partnership agreement will come with fees. The lawyer will take time reading over the agreement to analyze the terms and consulting with the partners.

ContractsCounsel’s marketplace data shows the average partnership agreement review costs to be $710.00 across all states and industries.

How Do Partnership Agreement Lawyers Charge?

Business lawyers charge for services in a variety of ways. Depending on the complexity of the project, the lawyer will typically suggest fee options to the client.

Hourly Rate

Many business lawyers prefer to bill their time with an hourly rate. This means the lawyer will provide an hourly rate to be approved by the client and log time in a timesheet to be invoiced at the end of the project for time spent on the partnership agreement. This is typically the safest way for the lawyer to charge clients since they are covered if the assignment takes more time than expected.

ContractsCounsel’s marketplace data shows the average hourly rate for a business lawyer ranges from $250 - $350 per hour.

Flat Fee

Flat fee billing structures are becoming more popular for contract drafting projects. Lawyers will provide a flat-fee to the client for services for approval. The benefit of flat fee billing is it provides certainty to the client on the total cost of the project. It is important to make sure the client knows what’s included with the fee before starting the project, as it may not include rounds of revisions.

ContractsCounsel’s marketplace data shows the average flat fee rate for partnership agreement costs to be $780.00.

Get Help with an Partnership Agreement

Do you need help with a partnership agreement project? If so, post a project in ContractsCounsel’s marketplace to receive flat fee bids from business lawyers to handle your project. All lawyers on the ContractsCounsel’s platform are vetted by our team to make sure you are provided with top tier service.


  1. ^ Based on real pricing data from ContractsCounsel's marketplace. Last updated 23 May, 2024.

ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.

Need help with a Partnership Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,053 reviews

Meet some of our Lawyers

Gamal H. on ContractsCounsel
View Gamal
5.0 (1)
Member Since:
October 31, 2021

Gamal H.

Free Consultation
New York City
26 Yrs Experience
Licensed in NY
New York Law School

I am a commercial contracts attorney with twenty years of experience. I have represented major corporate clients including Amazon, Marvel, and Viacom as well as independent entertainment professionals and technology startups.

Darryl S. on ContractsCounsel
View Darryl
5.0 (25)
Member Since:
November 9, 2023

Darryl S.

Founder and Counselor-at-Law
Free Consultation
31 Yrs Experience
Licensed in TX
The University of Texas School of Law Austin

I offer flat/fixed fees rather than hourly work to help lower your legal costs and align our interests. I specialize in contract law and focus on making sure your contract is clear, protects your interests and meets your needs. You can expect fast, straightforward communication from me, making sure you understand every step. With my experience, you'll get a detailed review of your contract at a fair, fixed price, without any surprises. I have over 30 years of business and legal experience that I bring to your project. I graduated from The University of Texas School of Law with High Honors in 1993 and practiced at Texas' largest law firm. I have founded companies and so understand how to be helpful as both a lawyer and business owner.

Jeremiah C. on ContractsCounsel
View Jeremiah
5.0 (47)
Member Since:
March 5, 2021

Jeremiah C.

Partner/Attorney at Law
Free Consultation
16 Yrs Experience
Licensed in NV, TX
Thomas Jefferson

Creative, results driven business & technology executive with 24 years of experience (15+ as a business/corporate lawyer). A problem solver with a passion for business, technology, and law. I bring a thorough understanding of the intersection of the law and business needs to any endeavor, having founded multiple startups myself with successful exits. I provide professional business and legal consulting. Throughout my career I've represented a number large corporations (including some of the top Fortune 500 companies) but the vast majority of my clients these days are startups and small businesses. Having represented hundreds of successful crowdfunded startups, I'm one of the most well known attorneys for startups seeking CF funds. I hold a Juris Doctor degree with a focus on Business/Corporate Law, a Master of Business Administration degree in Entrepreneurship, A Master of Education degree and dual Bachelor of Science degrees. I look forward to working with any parties that have a need for my skill sets.

Garrett M. on ContractsCounsel
View Garrett
4.9 (6)
Member Since:
June 15, 2023

Garrett M.

Free Consultation
Cincinnati, Ohio
4 Yrs Experience
Licensed in KY, OH
University of Cincinnati College of Law

Attorney Garrett Mayleben's practice is focused on representing small businesses and the working people that make them profitable. He represents companies in structuring and negotiating merger, acquisition, and real estate transactions; guides emerging companies through the startup phase; and consults with business owners on corporate governance matters. Garrett also practices in employment law, copyright and trademark law, and civil litigation. Though industry agnostic, Garrett has particular experience representing medical, dental, veterinary, and chiropractic practices in various business transactions, transitions, and the structuring of related management service organizations (MSOs).

Maria A. on ContractsCounsel
View Maria
4.7 (2)
Member Since:
June 29, 2023

Maria A.

Free Consultation
Los Angeles, CA
7 Yrs Experience
Licensed in CA
Whittier Law School

Maria is a family law attorney dedicated to helping you navigate the complexities of personal and family legal matters with compassion and efficiency. From divorce and child custody disputes to marital agreements and domestic violence cases, Maria provides personalized legal solutions tailored to your unique circumstances. With her extensive knowledge of family law, she strives to protect your rights, advocate for your best interests, and empathetically guide you towards a positive resolution. Trust Maria to be your reliable advocate during these difficult times, ensuring that your family's well-being is safeguarded every step of the way. Let's work together to find the best legal path forward for you and your loved ones.

David W. on ContractsCounsel
View David
Member Since:
June 14, 2023

David W.

Free Consultation
Indian Trail, North Carolina
10 Yrs Experience
Licensed in NC
Charlotte School of Law

David is an experienced attorney specializing in estate planning, contracts, commercial law, and trademarks. In addition to his 9 years as an attorney, he also brings additional financial services experience as a registered investment advisor, stockbroker, and life insurance agent. David is known for his attention to detail, strong communication skills, and dedication to achieving favorable outcomes for his clients.

Winslow W. on ContractsCounsel
View Winslow
Member Since:
June 16, 2023

Winslow W.

Free Consultation
Denver, Colorado
33 Yrs Experience
Licensed in CO
University of Baltimore

Experienced telecommunications, software and SaaS contracts attorney with past litigation experience available to review, negotiate and analyze contracts for business of all sizes.

Find the best lawyer for your project

Browse Lawyers Now

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Partnership Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,053 reviews
See All Business Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

Need help with a Partnership Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,053 reviews

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city