Nowadays, there are all kinds of different agreement documents one can encounter in the course of their career such as a non-compete agreement. That said, there are still others, such as formation agreements which can be used to join two different parties together in a particular relationship.
Such contract agreements can take different forms, as there are different ways for such parties to become bound together. In this case, the parties working together in these formation agreements form a sort of partnership so as to reach a mutual goal. Of course, this is distinct from a merger in that both companies are only working together.
What Is a Formation Agreement?
Since formation agreement templates allows different parties to work together, there are similarities with license agreement templates and partnership agreement templates. Some distinct characteristics of which include:
- Can be between different companies, who make an agreement to work together so as to meet some kind of goal that meets both their needs.
- Can be between firms and clients, as the parties can create a working relationship where one party performs services for the other for payment, distinct from employment.
- Can be between parties to form a corporation, as both parties can agree to work together so as meet a certain purpose.
Why Would You Need These Templates?
Like other agreement templates like memorandum of agreement templates, these templates can provide you with a number of conveniences such as:
- Using these templates as the framework for making your own agreements for whatever purposes you may have as you can simply fill in the blanks.
- Or else, you can use them as guides to help if you should need advice on how to write your own agreements. Now you need only take cues from how they are made.
- You can produce them in large numbers if you should choose a template for yourself. It is simply a matter of downloading once.
Management Pre-Formation Agreement
Sample Formation Agreement
How to Make a Formation Agreement
While tools like printable sample operating agreements can take some of the burden, you still need to know the processes involved in making such agreements yourself.
- First, think about what kind of agreement you are going to make. This can inform you as to what template you can use.
- State the names of the parties involved and explain who they are and how they relate to one another.
- Include any details vital to the agreement, or any terms to regulate both parties.
- Also include space for signatures at the end so as to be able to authenticate the document.
Guidelines to Using Formation Agreements
Most basic agreement templates can also benefit from certain tips, and formation agreement templates are no exception, as these guidelines could very well make your use of them much easier.
- Be sure that you have the appropriate template so as to meet your exact needs.
- Be specific, like with any other agreement template you may use so as to spell out the terms clearly.
- Be sure to include signatures and dates, both for authentication and for ease of record-keeping.
In case you are interested, there are also some other templates on this site that you may wish to check and possibly download so as to have more options for your work.