Partnership Agreement Template Examples

Understanding Partnership Agreements

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.

Example 1: General Partnership Agreement

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:

• Partner 1: [Name, Address]
• Partner 2: [Name, Address]

1. Purpose
The purpose of this partnership is to engage in [describe business activities].

2. Contributions

• Partner 1 will contribute [cash, property, services].
• Partner 2 will contribute [cash, property, services].

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:

• Partner 1: ___________

- Partner 2: ___________

Notes:

• Consider adding a dispute resolution clause.
• Adjust profit-sharing ratios based on contributions if necessary.

Example 2: Limited Partnership Agreement

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:

• General Partner: [Name, Address]
• Limited Partner: [Name, Address]

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

• General Partner will contribute [amount].
• Limited Partner will contribute [amount].

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:

• General Partner: ___________

- Limited Partner: ___________

Notes:

• Ensure compliance with local regulations regarding limited partnerships.
• Discuss and clarify the roles of each partner in detail.

Example 3: Joint Venture Partnership Agreement

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:

• Party A: [Name, Address]
• Party B: [Name, Address]

1. Objectives
The purpose of this joint venture is to [define the project scope].

2. Contributions

• Party A will contribute [resources, expertise].
• Party B will contribute [resources, expertise].

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:

• Party A: ___________

- Party B: ___________

Notes:

• Clearly define the project timeline.
• Include confidentiality clauses to protect proprietary information.