Free Business Partnership Agreement Layout Template
Business Partnership Agreement Layout
This Business Partnership Agreement (the "Agreement") is made and entered into as of [DATE], by and between [YOUR COMPANY NAME], located at [YOUR COMPANY ADDRESS], and [PARTNER NAME], located at [PARTNER ADDRESS] (collectively referred to as the "Partners").
I. Introduction
1. Purpose
This Agreement establishes the terms and conditions governing the business partnership between the Partners under the business name, [BUSINESS NAME], operating at [BUSINESS ADDRESS].
2. Business Scope
The primary purpose of the partnership is to engage in [BUSINESS ACTIVITIES] and other mutually agreed-upon activities.
II. Partnership Structure
1. Contributions
Each Partner agrees to make the following contributions to the partnership:
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[YOUR COMPANY NAME]: [DETAIL CONTRIBUTION]
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[PARTNER NAME]: [DETAIL CONTRIBUTION]
2. Ownership Interests
The ownership percentage of each Partner is as follows:
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[YOUR COMPANY NAME]: [PERCENTAGE]%
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[PARTNER NAME]: [PERCENTAGE]%
III. Management
1. Decision-Making Authority
Decisions regarding the partnership shall be made by [MAJORITY OR UNANIMOUS VOTE], with each Partner’s vote weighted according to their ownership percentage.
2. Roles and Responsibilities
Each Partner will have specific duties as follows:
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[YOUR COMPANY NAME]: [DUTIES]
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[PARTNER NAME]: [DUTIES]
IV. Financial Matters
1. Profit and Loss Allocation
Profits and losses will be allocated based on ownership percentages unless otherwise agreed in writing.
2. Banking and Accounting
The partnership shall maintain its financial accounts with [BANK NAME], and records shall be kept in accordance with [ACCOUNTING STANDARD OR METHOD].
3. Tax Reporting
The partnership will be taxed as [ENTITY TYPE] and comply with all relevant tax obligations.
V. Partner Withdrawal and Dissolution
1. Withdrawal
A Partner may withdraw by providing [NOTICE PERIOD]. Upon withdrawal, the remaining Partners will determine the terms for buying out the withdrawing Partner’s interest.
2. Dissolution
The partnership will dissolve upon [TRIGGERING EVENT], and assets will be distributed in accordance with ownership interests after settling liabilities.
VI. Confidentiality and Non-Compete
1. Confidentiality
Each Partner agrees to keep all proprietary and sensitive information of the partnership confidential.
2. Non-Compete
Partners may not engage in competing businesses without written consent from all other Partners.
VII. Dispute Resolution
1. Mediation and Arbitration
Disputes arising from this Agreement shall first be subject to mediation. If unresolved, they will proceed to binding arbitration under the rules of [ARBITRATION ORGANIZATION].
2. Governing Law
This Agreement shall be governed by the laws of the State of [STATE NAME].
VIII. General Provisions
1. Amendments
This Agreement may be amended only by a written document signed by all Partners.
2. Entire Agreement
This document represents the entire agreement between the Partners concerning the partnership and supersedes all prior agreements.
3. Severability
If any provision of this Agreement is deemed invalid or unenforceable, the remaining provisions shall remain in effect.
IN WITNESS WHEREOF, the Partners have executed this Agreement as of the date first written above.
[YOUR COMPANY NAME]: _____________________
Date: [DATE SIGNED]
[PARTNER NAME]: ___________________________
Date: [DATE SIGNED]
