This agreement delineates responsibilities, profit and loss distribution, and other essential details that protect the interests of all involved. Here, you’ll find a downloadable, editable Word document that you can tailor to suit your specific needs.
With this Partnership Agreement template, you can expedite the process and ensure that all parties are on the same page from the start of your collaboration.
1. PARTNERSHIP FORMATIONThis Partnership Agreement (the “Agreement”) is entered into as of ________ (the “Effective Date”), by and between [Partner 1] and [Partner 2] (collectively referred to as “Partners”).
2. PURPOSE OF THE PARTNERSHIPThe Partners agree to establish a partnership (the “Partnership”) for the purpose of [Specify the type of business activity]. The partnership is formed for the purpose of engaging in lawful business activities under the laws of the jurisdiction in which the partnership is established.
3. TERMThis Agreement shall remain effective from the Effective Date until the dissolution of the Partnership or as otherwise provided in this Agreement.
4. CAPITAL CONTRIBUTIONSEach Partner agrees to make an initial capital contribution to the Partnership as follows: [Partner 1] shall contribute [Amount] and [Partner 2] shall contribute [Amount]. Additional capital contributions shall be made in accordance with the written agreement of the Partners.
5. PROFIT AND LOSS DISTRIBUTIONThe net profits and losses of the Partnership shall be divided and distributed to the Partners in proportion to their respective capital contributions. Such distributions shall be made at least annually and at such other times as the Partners may agree in writing.
6. MANAGEMENT AND AUTHORITYEach Partner shall have equal rights in the management of the Partnership business. Any decision affecting the ordinary business affairs of the Partnership shall be decided by the majority vote of the Partners.
7. DISSOLUTIONThe Partnership may be dissolved upon the happening of any of the following events: [Specify events, such as the death or withdrawal of a partner, or the decision of the Partners to terminate the partnership].
8. DISPUTE RESOLUTIONIn the event of any dispute arising out of or relating to this Agreement, the Partners agree to first attempt to resolve the dispute through friendly consultation. If the dispute cannot be resolved in this manner, the Partners agree to resolve the dispute through mediation or arbitration.
9. OWNERSHIP INTERESTSEach Partner’s ownership interest in the Partnership is in direct proportion to the Partner’s capital contribution. In the event of the dissolution of the Partnership, each Partner shall have the right to receive the Partner’s capital contributions and the Partner’s proportionate share of the Partnership’s assets, after payment of all Partnership debts and liabilities.
10. AMENDMENTThis Agreement may only be amended by a written agreement signed by all of the Partners.
11. GOVERNING LAWThis Agreement shall be governed by and construed in accordance with the laws of [Specify the jurisdiction].
Other Useful ContractsIf you’re finding the Partnership Agreement for collaborations beneficial, you might also find interest in the Non-Disclosure Agreement (NDA). This template is a valuable tool for setting clear boundaries about what information can be shared, establishing trust between parties, and ensuring that proprietary data stays confidential during the course of the partnership. It can be used in conjunction with the Partnership Agreement to create a more secure environment for collaboration.
Another crucial document that complements the Partnership Agreement is the Graphic Designer Agreement. This contract becomes essential during collaborations involving creative work as it outlines the scope, terms, and conditions of the design services to be provided. It helps in managing expectations and ensuring all parties are on the same page.
Taking into consideration that modern-day collaborations often involve digital assets and coding, another useful template would be the Software Developer Agreement. This contract can help provide clarity regarding software development projects, describing details like duty of maintenance, payment terms, licensing or distribution rights, and much more. This is particularly useful in collaborations involving software development.
Additionally, e-commerce has become a fundamental part of many businesses today. If your collaboration involves developing an online marketplace or delving into e-commerce, then the E-Commerce Specialist Contract is absolutely essential. This agreement outlines the duties, responsibilities, terms, payment details and much more of an e-commerce specialist, ensuring a smooth collaboration in this department.