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PARTNERSHIP AGREEMENT
THIS PARTNERSHIP AGREEMENT (the "Agreement") made and entered into this ________ day of ________________, ________ (the "Execution Date"),BETWEEN:
____________________________ of ___________________________________________________________________, and ____________________________ of ___________________________________________________________________(individually the "Partner" and collectively the "Partners").
BACKGROUND:
IN CONSIDERATION OF and as a condition of the Partners entering into this Agreement and other valuable consideration, the receipt and sufficiency of which consideration is acknowledged, the parties to this Agreement agree as follows:
Partner
Contribution Description
Agreed Value
____________________________
IN WITNESS WHEREOF the Partners have duly affixed their signatures under hand and seal on this ________ day of ________________, ________.
_______________________________WITNESS: ______________________
_____________________________________________________(Partner)
A Partnership Agreement, also called a General Partnership or Partnership Contract, is a document used to dictate the terms of a business partnership between two or more partners. It encompasses information about capital contributions, management, and profit and loss distribution.
Anyone entering into a business partnership with one or more partners, including friends, family members, or spouses, should have a Partnership Agreement in order to lay out the terms and conditions of the business relationship.
In order to complete your Partnership Agreement, you and your partner(s) will need to make a number of decisions in relation to the terms of your partnership. This includes things like:
In your Partnership Agreement, you will be asked to select how your business will be managed. You may choose to either have all partners participate, or you may name one partner to head the management of the company.
You may also choose to limit the decision making allowances of partners by placing limits on certain actions, such as:
Yes, as long as you include dissolution in the Partnership Agreement. You will need to designate which rules you will follow if any of the partners wish to exit the agreement. This means setting terms for:
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