Partnership Business Agreement Template: FREE To Download, Edit & Use [DOCX PDF]

Partnership Business Agreement Templates are used for formalizing the business relationships between two or more partners.

Available in a Word format, these templates are easy to download, edit, and adapt according to your individual business needs, whether they entail a 50/50 partnership agreement template or a multi-partner business agreement.

Our page presents an array of templates ranging from simple partnership agreements to specific ones like single-partner business agreements or those particular to business agreements in California.

Furthermore, the availability of both partnership agreement pdf and partnership agreement template word formats ensures versatility and ease of use. Explore our range of sample agreements for dual partnership businesses and begin safeguarding your enterprise today.

PARTNERSHIP AGREEMENT

This Partnership Agreement (“Agreement”) is made and entered into on this ______day of _______, 20__ (the “Effective Date”), by and among the undersigned partners (individually referred to as a “Partner” and collectively referred to as the “Partners”):

____________________
____________________

1. NAME AND BUSINESS OF THE PARTNERSHIP

The Partners hereby form a general partnership in accordance with the laws of the state of ______________, under the name “__________________”. The principal place of business shall be at __________________, or at such other place as the Partners shall agree upon.

2. PURPOSE

The purpose of the Partnership shall be to engage in the business of __________________.

3. TERM

The Partnership shall commence as of the Effective Date and shall continue until dissolved as provided herein.

4. CAPITAL CONTRIBUTIONS

The initial capital contribution to the Partnership by each Partner shall be as follows: __________________. No Partner may withdraw part or all of their capital contribution without the express written consent of all other Partners.

5. PROFIT AND LOSS ALLOCATIONS

All profits and losses of the Partnership, and all items of income, gain, loss, deduction, or credit are allocated among the Partners in proportion to each Partner’s percentage interest in the Partnership, which is as follows: __________________.

6. MANAGEMENT AND CONTROL

Each Partner shall have equal rights in the management and control of the Partnership. Any action requiring a decision shall be decided by a majority vote of the Partners.

7. ACCOUNTING

The Partnership’s accounting books and records shall be maintained at the Partnership’s principal place of business, and each Partner shall have access to the books and records at all reasonable times.

8. WITHDRAWAL OR DEATH OF A PARTNER

Upon the death or withdrawal of a Partner, the remaining Partners may continue the business of the Partnership. The withdrawing Partner or the deceased Partner’s estate shall not have further rights except for the right to receive the fair value of the withdrawing or deceased Partner’s interest in the Partnership.

9. DISPUTE RESOLUTION

Any dispute among the Partners regarding the interpretation or application of this Agreement shall be resolved by arbitration in accordance with the rules of the American Arbitration Association.

10. AMENDMENT

This Agreement may be amended only by the written consent of all Partners.

11. GOVERNING LAW

This Agreement shall be governed by the laws of the state of ______________.

By signing below, the Partners agree to the terms and conditions of this Agreement.
____________________ ____________________
Partner Name Date
____________________ ____________________
Partner Name Date

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Other Useful Contracts

If you found the Partnership Business Agreement Template at ClauseClip beneficial, there are a plethora of other templates that can significantly aid in your business dealings. At ClauseClip, we have an entire sitemap of resources equipped to support varying business needs.

One such useful template is the Termination of Business Agreement Template. When a partnership venture ceases or conditions change, it is vital to have a formal termination agreement to secure your interests. This template is a crucial tool when it comes to termination as it ensures all parties understand their obligations and responsibilities. Termination of Business Agreement Template also helps avoid any future misunderstanding and dispute.

Similarly, Non-compete Business Agreement Template serves indispensable in safeguarding your business’s unique advantages. It prevents partners from entering into competition or sharing confidential information with others, during and for a specific period after the partnership. It aids in maintaining your competitive edge in the market by protecting your business’s proprietary information.

While managing funds in a partnership venture, it’s important to be clear about the terms of any loan agreements. The Loan Business Agreement Template helps outline the parameters around borrowing and repaying money within a business agreement. It contributes to accountability and transparency by making well-defined guidelines for monetary transactions.

Lastly, an essential tool that could be as useful as the Partnership Business Agreement Template is the LLC Business Agreement Template. If you’re planning to form an LLC with multiple members, this template guides you through all aspects of running an LLC, including member duties, voting rights, distribution of profits and losses, and more. It helps establish the operational structure of your entity while providing legal protection for your business. LLC Business Agreement Templates act as a blueprint for how your LLC will function and operate.
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