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Partnership Agreement Template

 

Partnership Agreement Template

Partnership Agreement

This Partnership Agreement (the "Agreement") is entered into on this ___ day of ____, 20, by and between:
1. Partner 1 Name: ____________________________________
Address: ____________________________________________
Contact Information: _______________________________
AND
2. Partner 2 Name: ____________________________________
Address: ____________________________________________
Contact Information: _______________________________

Both parties agree to enter into a business partnership (the "Partnership") under the following terms and conditions:

1. Purpose of the Partnership

Clearly state the purpose of the business venture, e.g.:
The purpose of the Partnership is to engage in the business of [insert type of business], with the aim of achieving mutual profitability and growth.

2. Name of the Partnership

The name of the Partnership shall be: ___________________________________.

3. Contributions

3.1 Initial Contributions

  • Partner 1 Contribution: Describe monetary, property, or service contributions.
  • Partner 2 Contribution: Describe monetary, property, or service contributions.

3.2 Additional Contributions

  • Future contributions shall be made on mutual consent in writing.

4. Profit and Loss Sharing

Profits and losses shall be shared among the Partners as follows:

  • Partner 1: ___%
  • Partner 2: ___%

5. Management Responsibilities

Specify each Partner’s role and responsibilities in the business operations:

  • Partner 1: (e.g., financial management, operational oversight)
  • Partner 2: (e.g., client relationships, marketing strategies)

6. Decision-Making

Decisions regarding the Partnership shall be made:

  • By unanimous vote.
  • In writing for major decisions such as financial investments or expansion.

7. Termination or Dissolution

7.1 Grounds for Termination

  • Mutual consent of all Partners.
  • Insolvency or legal actions.

7.2 Procedure for Dissolution

  • Distribution of remaining assets after liabilities.
  • Fair valuation of each Partner’s share.

8. Non-Compete Clause

No Partner shall engage in any business similar to that of the Partnership for a period of __ years after termination.

9. Confidentiality

Partners agree to maintain confidentiality regarding the Partnership’s sensitive information even after dissolution.

10. Governing Law

This Agreement shall be governed by the laws of the [State/Country], and disputes will be resolved in the courts of [Jurisdiction].

11. Amendments

Any changes to this Agreement must be made in writing and signed by all Partners.

12. Entire Agreement

This document constitutes the entire agreement between the Partners and supersedes all prior agreements.

Signatures

Partner 1 Signature: _______________________ Date: ______________
Partner 2 Signature: _______________________ Date: ______________

Need a Custom Partnership Agreement?

Lexis and Company offers expert drafting services for Partnership Agreements, tailored to meet your specific needs and protect your business interests. We also specialize in drafting other legal documents, including:

  • Founders’ Agreements
  • Shareholders’ Agreements
  • Non-Disclosure Agreements (NDAs)
  • Service Level Agreements (SLAs)

Get in touch with us today!
🌐 Visit: lexisandcompany.in
📧 Email: support@lexisandcompany.in
📞 Call/WhatsApp: +91-9051112233

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