Partnership & LLCIllinois

Free Illinois General Partnership Agreement

Download a professional Illinois General Partnership Agreement template. Compliant with the Uniform Partnership Act. Protect your business interests today.

363 wordsUpdated May 27, 2026

Who is this template for?

Two or more individuals starting a new business venture in Illinois without forming a formal LLC or Corporation.
Existing business partners looking to formalize their verbal agreement into a legally binding document.
Professional service providers (e.g., consultants, architects) forming a partnership to share resources and liability.
Family members or friends launching a joint commercial project who need clear rules on profit sharing and dispute resolution.

Template Preview

1. PARTIES

This General Partnership Agreement (the "Agreement") is entered into as of [DATE], by and between [PARTNER A NAME] of [ADDRESS] ("Partner A") and [PARTNER B NAME] of [ADDRESS] ("Partner B"). Collectively, the parties shall be referred to as the "Partners."

2. FORMATION AND NAME

The Partners hereby form a General Partnership under the laws of the State of Illinois, pursuant to the Uniform Partnership Act (805 ILCS 206/). The business of the Partnership shall be conducted under the name [PARTNERSHIP NAME] (the "Partnership"). The principal office of the Partnership shall be located at [OFFICE ADDRESS].

3. PURPOSE

The purpose of the Partnership is to engage in the business of [DESCRIBE BUSINESS ACTIVITIES] and any other lawful business activities as may be agreed upon by the Partners from time to time.

4. TERM

The Partnership shall commence on [START DATE] and shall continue until dissolved in accordance with the provisions of this Agreement or by operation of law.

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