Partnership agreements are crucial legal documents that outline the terms and conditions of a partnership between two or more parties. These agreements help ensure clarity in roles, responsibilities, profit-sharing, and decision-making processes. Below are three diverse examples of partnership agreement templates tailored for different scenarios.
This type of agreement is suitable for two or more individuals who want to form a general partnership for business purposes. It defines each partner’s roles, contributions, and profit distribution.
In a general partnership, all partners share equal responsibility for management and liability. This agreement is often used by small businesses or startups.
Partnership Agreement
Date: [Date]
Parties:
1. Purpose
The purpose of this partnership is to engage in [describe business activities].
2. Contributions
3. Profit Distribution
Profits and losses will be shared equally unless otherwise agreed.
4. Management
Each partner has equal rights in managing the partnership.
5. Duration
This partnership shall commence on [start date] and continue until terminated.
Signatures:
Notes:
A limited partnership agreement is suitable for partnerships that include both general and limited partners. Limited partners typically invest capital but do not take part in day-to-day management, which limits their liability.
This agreement is often used in investment operations or real estate ventures.
Limited Partnership Agreement
Date: [Date]
Parties:
1. Formation
The parties hereby form a limited partnership under the laws of [state/country].
2. Purpose
The purpose of the partnership is to [describe specific business activities].
3. Contributions
4. Profit Sharing
Profits will be distributed [percentage] to the general partner and [percentage] to the limited partner.
5. Management Rights
The general partner has full authority to manage the partnership; limited partners cannot participate in management.
6. Termination
The partnership may be dissolved upon agreement or as per law.
Signatures:
Notes:
A joint venture partnership agreement is designed for two or more parties looking to collaborate on a specific project or business initiative while retaining their separate identities. This template is ideal for companies aiming to combine resources for a limited duration.
This agreement is often used in large projects like construction or product development.
Joint Venture Partnership Agreement
Date: [Date]
Parties:
1. Objectives
The purpose of this joint venture is to [define the project scope].
2. Contributions
3. Profit Sharing
Profits will be divided as follows: Party A [percentage], Party B [percentage].
4. Management and Control
Both parties will jointly manage the joint venture with equal say in decision-making.
5. Duration
This joint venture will last until [end date or project completion].
6. Dispute Resolution
Any disputes arising from this agreement will be resolved through mediation.
Signatures:
Notes: