Startup Partnership Agreement Template
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Startup Partnership Agreement
This Startup Partnership Agreement (the "Agreement") is made and entered into as of the ___ day of _______, 20 (the "Effective Date"), by and between [Your Company Name], a [State of Incorporation] corporation with its principal place of business located at [Address],
and
[Partner Name], a [State of Incorporation] [Entity Type] with its principal place of business located at [Address] (collectively, the "Parties").
SECTION 1: FORMATION OF PARTNERSHIP
The Parties hereby establish a partnership (the "Partnership") in accordance with the laws of the State of [State], for the primary purpose of creating, developing, and operating a startup venture, including but not limited to, the design, development, and marketing of [Describe Business Purpose]. The Partnership shall engage in any lawful activities necessary or incidental to the foregoing.
SECTION 2: CAPITAL CONTRIBUTIONS
The Parties agree to make initial capital contributions to the Partnership as follows: [Your Company Name] shall contribute [Detailed Description of Contributions], and [Partner Name] shall contribute [Detailed Description of Contributions]. All contributions shall be duly recorded in the Partnership's financial records and shall be subject to audit.
SECTION 3: DISTRIBUTION OF PROFITS AND LOSSES
The Partnership's net profits shall be distributed, and losses shall be borne by the Parties in proportion to their respective capital contributions, except as otherwise provided herein. Adjustments to the distribution of profits and allocation of losses may be made as agreed upon by the Parties in writing.
SECTION 4: MANAGEMENT AND GOVERNANCE
Management of the Partnership shall be vested in the Parties collectively. Each Party shall have equal rights in the management and control of the Partnership. Decisions shall be made by consensus where possible; however, in the event of a deadlock, the matter shall be resolved by a majority vote of the Parties. Each Party shall have one vote, and all decisions requiring a vote shall be documented in writing.
SECTION 5: TERMINATION
This Agreement may be terminated under the following conditions:
(i) the insolvency, bankruptcy, or receivership of either Party;
(ii) the unauthorized assignment of rights or obligations under this Agreement; or
(iii) by mutual written consent of the Parties. Upon termination, the Partnership shall be dissolved in accordance with applicable laws and the terms set forth herein.
SECTION 6: CONFIDENTIALITY AND NON-DISCLOSURE
Each Party agrees to maintain the confidentiality of all proprietary and confidential information related to the Partnership and its business endeavors. No Party shall disclose any such information to third parties without the express written consent of the other Party, except as required by law.
MISCELLANEOUS
This Agreement shall inure to the benefit of and be binding upon the Parties and their respective successors, heirs, and assigns. This Agreement may only be amended or modified by a written instrument executed by all Parties.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date first above written.
Signature: ___________________
[Your Company Name]
Name: [Your Name]
Signature: ___________________
[Partner Company Name]
Name: _______________________
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