This is a partnership agreement (DE) in which a general partnership is formed for a defined business purpose. This agreement should be used only in situations where a general partnership for a limited purpose and defined duration is desired, such as to create a general partnership as a joint venture vehicle. This template includes practical guidance and drafting notes. Counsel should note that a general partnership is not an incorporated business entity, nor does it provide the limitations on partner liability that would be available to a limited partnership, limited liability company or corporation. Given the limited purpose of this partnership, and its potential use as a joint venture vehicle, the partnership business purpose has been narrowly defined to limit the scope of the partners' duties to the partnership. Agreements or documents of this type should be customized for each transaction or situation. For additional information on joint ventures organized by partnerships, see Key ...