A Draft Partnership Agreement is a legally-binding document which outlines the roles and responsibilities of the members of a partnership, as well as the rights and obligations each partner has to the other. This document clearly spells out the terms of the relationship between each partner, including how decisions will be made, how profits and losses are to be shared, and how disputes will be handled. Drafting a Partnership Agreement is an important step in any business venture, helping to ensure that all parties understand their respective rights and duties before they enter into the partnership. With a clear and comprehensive agreement in place, partners can rest easy knowing that their interests are secure.