A partnership agreement is a crucial document that outlines the terms of a business partnership. It serves as a roadmap for how the partners will operate, share profits, and resolve disputes. Below are three diverse examples of written partnership agreements, each tailored to different contexts and needs.
This example is suitable for two individuals starting a small business together, such as a coffee shop.
This Partnership Agreement is made on [Date] by and between [Partner 1 Name] and [Partner 2 Name]. The partners agree to form a partnership under the name [Business Name]. The purpose of the partnership is to operate a coffee shop located at [Business Address]. The partners will share all profits and losses equally. Each partner will contribute [specific contributions, e.g., cash, equipment, skills]. Decisions will be made jointly, requiring a majority vote. In the event of a dispute, the partners agree to mediation before pursuing legal action. This agreement takes effect on [Effective Date].
This example applies to professionals, such as lawyers or accountants, forming a partnership.
This Partnership Agreement is entered into on [Date] between [Partner 1 Name] and [Partner 2 Name]. The partners wish to establish a professional services partnership under the name [Partnership Name]. The business will provide [specific services offered, e.g., legal, accounting]. The partners agree to share profits and losses based on their respective contributions: [Partner 1: 60%, Partner 2: 40%]. Each partner will be responsible for their own expenses unless otherwise agreed. Regular meetings will be held quarterly to discuss business operations. In case of a partner’s death or withdrawal, the remaining partner has the right to buy out the departing partner’s interest at fair market value. This agreement is effective as of [Effective Date].
This example is designed for two non-profit organizations collaborating on a community project.
This Partnership Agreement is made on [Date] by and between [Non-Profit Organization 1 Name] and [Non-Profit Organization 2 Name]. The organizations agree to collaborate on [Project Name], aimed at [Project Purpose]. Each organization will contribute resources, including staff time and financial support, as follows: [Organization 1: \(X, Organization 2: \)Y]. The organizations will jointly manage the project and share any outcomes or profits derived from it. Regular updates will be shared through meetings held on a monthly basis. This agreement is effective from [Effective Date] and will continue until [End Date or Project Completion].
These examples of example of a written partnership agreement provide a solid foundation for establishing clear expectations and responsibilities among partners in various contexts.