Extract data from partnership agreements

A partnership agreement is the private contract among the partners of a business that is not a corporation, setting who put in what, who gets what share of profit and loss, who can make decisions, and what happens when a partner wants out. Where a corporation is created by a state-issued charter, a partnership is created and governed by this agreement between the partners themselves. Partners, their accountants, and the lawyers structuring the deal read it to confirm the capital accounts, the profit-and-loss split, and the management and withdrawal rules. Blackwood and Ferris LLP, a Delaware limited liability partnership with its principal place of business in Wilmington, took effect on 2026-05-01 among three partners. Amelia Blackwood contributed 500,000 USD for a 50% interest, Daniel Ferris 300,000 USD for 30%, and Priya Nair 200,000 USD for 20%, so the capital contributions total 1,000,000 USD and the interests sum to 100%. Profit and loss are allocated in the same proportions. The agreement gives managing partners day-to-day authority, requires unanimous consent to admit a new partner, sets 180 days notice for voluntary withdrawal, and routes disputes to arbitration. It carries a non-compete and an employee non-solicit binding each partner. Talonic reads the agreement and returns the partnership name and type, the governing law, the management and withdrawal terms, and the dispute mechanism as fields, with the partners, the capital contributions, and the profit-and-loss allocations as tables. Partner interests are checked to sum to 100% and capital contributions to their stated total, so an allocation table that foots to 95% is flagged. Because a partnership is formed by agreement rather than a state charter, the fields differ from those of articles of incorporation: capital accounts and profit splits instead of authorized shares and a registered agent. Talonic captures the terms as written and makes no enforceability judgment.

What gets extracted from partnership agreements

How extraction works for partnership agreements

Partnership agreements are drafted from counsel precedent and vary widely, with the economic terms (capital contributions, profit-and-loss allocation) sometimes in the body and sometimes in schedules. Talonic classifies the agreement and aligns it to the contract schema in the Field Registry, whose clause set follows the CUAD taxonomy, so partnership_name, partnership_type, management_rights, withdrawal_conditions, and dispute_resolution_mechanism each resolve to a field, while the partners and profit_loss_allocations tables load per row with percentages and capital amounts typed as numbers. The 2026-05-01 effective date parses to ISO 8601 and the LLP type is captured as an enum. Every value carries a confidence score and a source-region pointer under DIN SPEC 91491, so a partner or accountant can verify a 50% profit share or a 500,000 USD capital account against the signed text. Talonic returns the terms as drafted and does not decide whether a provision binds.

Sample extraction

A three-partner limited liability partnership agreement

{
  "document_number": "PA-2026-0501",
  "document_date": "2026-04-28",
  "effective_date": "2026-05-01",
  "partnership_name": "Blackwood and Ferris LLP",
  "partnership_type": "LLP",
  "principal_place_of_business": "1201 N Market St, Wilmington, DE 19801",
  "governing_law": "Delaware",
  "management_rights": "Managing partners hold day-to-day authority; major decisions require a two-thirds vote",
  "withdrawal_conditions": "Voluntary withdrawal on 180 days written notice; buyout at capital account plus 12-month trailing profit share",
  "dispute_resolution_mechanism": "Binding arbitration under AAA Commercial Rules, seated in Wilmington",
  "non_compete": "Partners may not operate a competing practice within Delaware for 24 months after withdrawal",
  "no_solicit_of_employees": "Partners may not solicit partnership employees for 24 months",
  "capital_contribution.amount": 1000000,
  "capital_contribution.currency": "USD",
  "parties": "Amelia Blackwood, Daniel Ferris, Priya Nair",
  "partners": [
    {
      "partner_name": "Amelia Blackwood",
      "partner_role": "Managing Partner",
      "partner_address": "Wilmington, DE",
      "partner_percentage": 50
    },
    {
      "partner_name": "Daniel Ferris",
      "partner_role": "Partner",
      "partner_address": "Wilmington, DE",
      "partner_percentage": 30
    },
    {
      "partner_name": "Priya Nair",
      "partner_role": "Partner",
      "partner_address": "Wilmington, DE",
      "partner_percentage": 20
    }
  ],
  "capital_contributions": [
    {
      "partner_name": "Amelia Blackwood",
      "contribution_amount": 500000,
      "currency": "USD",
      "contribution_date": "2026-05-01"
    },
    {
      "partner_name": "Daniel Ferris",
      "contribution_amount": 300000,
      "currency": "USD",
      "contribution_date": "2026-05-01"
    },
    {
      "partner_name": "Priya Nair",
      "contribution_amount": 200000,
      "currency": "USD",
      "contribution_date": "2026-05-01"
    }
  ],
  "profit_loss_allocations": [
    {
      "partner_name": "Amelia Blackwood",
      "profit_percentage": 50,
      "loss_percentage": 50
    },
    {
      "partner_name": "Daniel Ferris",
      "profit_percentage": 30,
      "loss_percentage": 30
    },
    {
      "partner_name": "Priya Nair",
      "profit_percentage": 20,
      "loss_percentage": 20
    }
  ]
}

Frequently asked