A Joint Partnership Agreement is a legal contract between two or more parties who wish to form a business partnership. It outlines the terms, benefits and responsibilities of each partner, defines the ownership structure and specifies how profits will be shared. Both partners must sign the agreement in order for it to be legally binding. With a Joint Partnership Agreement, businesses can collaborate on projects in order to maximize their reach and grow their customer base. Such agreements are essential for ensuring a mutually beneficial relationship – and setting clearly defined expectations that both sides can agree on.