A Partnership Agreement is used when two or more individuals join forces to either create a new business partnership or formalize an existing business partnership. This is an excellent and comprehensive template which contains 29 clauses relating to capital contribution, management roles, debt and profit allocation, restrictions on the partners, dissolution, termination, etc.
This template is an absolute must if you are entering into a partnership agreement or if you are part of a business partnership and you don’t have a written and signed agreement. Not only does it outline basic details such as investment levels and management structure, it also protects all parties in the event of a disagreement or dissolution.
Document Content
1. NAME AND DOMICILE
2. PURPOSES
3. DURATION OF AGREEMENT
4. CLASSIFICATION AND PERFORMANCE BY PARTNERS
5. CONTRIBUTION
6. MANAGEMENT OF THE PARTNERSHIP
7. DISSOLUTION AND TERMINATION OF THE PARTNERSHIP
8. BUSINESS EXPENSES
9. MEETINGS
9.1. Place of Meetings
9.2. Notice
10. AUTHORITY
11. SEPARATE DEBTS
12. BOOKS AND RECORDS
13. ACCOUNTING
14. DIVISION OF PROFITS AND LOSSES
15. ADVANCE DRAWS
16. SALARY
17. RETIREMENT
18. RIGHTS OF CONTINUING PARTNERS
19. DEATH OF PARTNER
20. EMPLOYEE MANAGEMENT
21. RELEASE OF DEBTS
22. COVENANT AGAINST REVEALING TRADE SECRETS
23. ADDITIONAL CONTRIBUTIONS
24. ARBITRATION
25. ADDITIONS, ALTERATIONS, OR MODIFICATIONS
26. NOTICES
27. HEADINGS
28. GOVERNING LAW
29. ENTIRE AGREEMENT
MS-Word format (.doc) 7 pages 2,908 words
No comments:
Post a Comment