in starting a partnership with one or more parties to create a business or further a current business model, it is always important to get the details of the working relationship on paper. the partnership agreement is how the parties will govern the entire relationship from start to finish. the document will be drafted to include all the parties’ details and duties to make said profit and will outline the process of how the partnership will be managed and who will be responsible for the various steps in the business process. the basic details of the partnership agreement template are vital for the smooth integration of the partnership and the various business units that are taking part.