PandaTip: This simple partnership agreement template can be used by two individuals or companies who wish to partner with one another. The agreement template establishes a new business entity which is considered a joint venture between the two partners.
This partnership agreement is entered into by and between the two entities listed below as of [Agreement.CreatedDate]
|[Sender.City], [Sender.State] [Sender.Zip]||[Sender.Phone]|
|City, State, Zip||Phone|
PandaTip: This section of the template identifies the entities who are entering into this simple partnership agreement with one another. If there are more than two partners, simply click on one of the tables and copy it to include the additional partner(s) details.
|[Recipient.City], [Recipient.State] [Recipient.Zip]||[Recipient.Phone]|
|City, State, Zip||Phone|
PandaTip: The terms of this simple partnership agreement template have been streamlined for simplicity’s sake. We recommend having an attorney familiar with contract law in your area review this agreement template before it is signed.
The partnership shall be known as [Partnership.Name]. The entities listed above agree to jointly enter this partnership, which shall have a principle business address at [Partnership.Address].
The partners agree to contribute initial capital contributions as follows:
The partners agree that their ownership in the partnership shall be considered equal for operating purposes, while gross profits shall be distributed in accordance with each partner’s actual percentage of total initial capital invested in the partnership.
This partnership agreement shall be considered legally binding on both parties, and shall not be modified or cancelled without written consent from both parties.
Death or bankruptcy by either party shall grant the remaining party the exclusive right to purchase the opposite partners’ share of the partnership in accordance with that partner’s initial contribution.
The partners agree to operate in good faith at all times by acting in the best interests of the partnership without exception.
All financial records related to the partnership shall be documented in accordance with generally accepted business accounting standards. Records shall be audited for completion and accuracy once per calendar year.
Should this partnership agreement be dissolved for any reason, any assets belonging to the partnership shall be liquidated via public auction. Once any outstanding debts are resolved, the remaining profits shall be passed to the partners in accordance with their share of the initial capital contribution.
PandaTip: Be sure to list all parties’ capital contributions in the text fields above. If more than two partners are involved, you can use the menu on the right to add additional text and signature fields to the template for those partners.
By signing below, the partners agree to enter into this partnership agreement with one another.