Partnership agreements are vital for business collaborations to ensure that all parties are aligned on expectations, responsibilities, and benefits. When crafting a partnership agreement, it is crucial that it reflects the specific needs of both parties, while also being legally enforceable. In this article, we will provide an example of a partnership agreement that can be used as a guide for drafting your own.
This agreement is made on [date] between [company name] and [partner company name]. Both parties hereby agree to enter into a partnership to [briefly state the purpose of the partnership]. This agreement shall be governed by the laws of [state].
[Company name] shall be responsible for:
– Briefly list the responsibilities of your company as per the agreement
[Partner company name] shall be responsible for:
– Briefly list the responsibilities of the partner company as per the agreement
The partnership shall commence on [date] and shall continue until [date], unless terminated earlier by either party with [number] days written notice.
[Company name] and [partner company name] shall mutually own all intellectual property created jointly as part of the partnership. Any other intellectual property owned by either party prior to the partnership shall remain owned by that party.
Profit and Loss
Both parties shall have [percentage] ownership of the profits and losses generated by the partnership. All expenses incurred in carrying out the partnership shall be shared equally between the parties.
Both parties agree to keep all confidential information shared during the partnership confidential. This includes, but is not limited to trade secrets, financial information, and customer data.
Either party may terminate this partnership agreement with [number] days written notice. Upon termination, all joint intellectual property shall be divided equally between the parties.
Any dispute arising from or related to this partnership agreement shall be resolved through mediation. If mediation fails, both parties agree to seek resolution through binding arbitration.
This agreement may be amended by mutual written agreement of both parties.
Both parties agree to the terms of this partnership agreement and have signed below.
[Company name] [Partner company name]
[Printed name] [Printed name]
This is just one example of a partnership agreement that can be used as a guide for drafting your own. It is important to note that partnership agreements should always be tailored to the specific needs and circumstances of the parties involved. Before signing any agreement, it is important to seek legal advice to ensure that it is legally enforceable and accurately reflects the intentions of both parties.