Best Business Partnership Agreement Templates for Start-up’s and Small Businesses

A business partnership agreement template is a legal document that outlines the terms and conditions of a partnership between two or more parties. It is an essential tool for any business looking to establish a partnership, as it helps to define the roles and responsibilities of each partner, the distribution of profits and losses, and the terms of dissolution.

There are several templates available for a partnership agreement, depending on the nature of the partnership and the specific needs of the partners involved.

In this blog post, we will explore two to four different partnership agreement templates that can be used to create a partnership agreement.

1- Basic Partnership Agreement Template:

This template is suitable for partnerships that have a simple structure and do not require extensive legal language. It covers the essential terms and conditions of the partnership and is easy to customize to meet the specific needs of the partners.

Key elements of this template include:

• The name and purpose of the partnership
• The names and addresses of the partners
• The initial capital contribution of each partner
• The division of profits and losses
• The term of the partnership and the process for dissolution
• The management and decision-making structure of the partnership

Basic Partnership Agreement Template:

[PARTNERSHIP NAME]

THIS AGREEMENT, made and entered into on [DATE] by and between PARTNER 1 NAME, residing at [ADDRESS], and PARTNER 2 NAME, residing at [ADDRESS], collectively referred to as “partners.”

WHEREAS, the partners desire to associate themselves as partners in business.

NOW, THEREFORE, the partners agree as follows:

1. Name and Purpose. The name of the partnership shall be [PARTNERSHIP NAME]. The purpose of the partnership is [INSERT PURPOSE].
2. Capital Contributions. Each partner shall contribute the following amounts to the partnership’s capital:

3. Profits and Losses. The profits and losses of the partnership shall be divided equally between the partners.
4. Term and Dissolution. The partnership shall commence on [START DATE] and shall continue until [END DATE], unless earlier terminated by mutual agreement of the partners.
5. Management and Decision-Making. The partners shall have equal rights in the management of the partnership and shall make all decisions by mutual agreement.
6. Signatures. This agreement shall be executed by the partners on the date first above written.

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PARTNER 1 NAME PARTNER 2 NAME

2- Limited Partnership Agreement Template:

This template is suitable for partnerships where one or more partners have limited liability and are not actively involved in the day-to-day management of the business. This template provides greater protection for limited partners and is more complex than a basic partnership agreement.

Key elements of this template include:

• The names and addresses of the general and limited partners
• The capital contributions of each partner
• The division of profits and losses
• The management structure of the partnership, including the roles and responsibilities of the general and limited partners
• The term of the partnership and the process for dissolution
• The rights and obligations of the limited partners, including restrictions on their involvement in management

Limited Partnership Agreement Template:

[PARTNERSHIP NAME]

LIMITED PARTNERSHIP AGREEMENT

THIS LIMITED PARTNERSHIP AGREEMENT (“Agreement”) is made and entered into on [DATE] by and between GENERAL PARTNER NAME, residing at [ADDRESS] (the “General Partner”), and the limited partners listed on Exhibit A attached hereto (the “Limited Partners”).

WHEREAS, the General Partner desires to form a limited partnership (the “Partnership”) under the laws of [STATE], and the Limited Partners desire to become limited partners in the Partnership.

NOW, THEREFORE, the parties agree as follows:

1. Formation of Partnership. The Partnership shall be formed on [DATE] under the laws of [STATE] as a limited partnership.
2. Capital Contributions. The General Partner shall contribute the following amounts to the Partnership’s capital:

The Limited Partners shall contribute the following amounts to the Partnership’s capital:

[List of Limited Partners and their respective contributions]

3. Profits and Losses. The profits and losses of the Partnership shall be allocated to the partners in accordance with their respective percentage interests.
4. Management and Decision-Making. The General Partner shall have the sole and exclusive right to manage the Partnership and make all decisions relating to the Partnership’s business, subject to the provisions of this Agreement.
5. Term and Dissolution. The Partnership shall continue until [DATE], unless earlier dissolved by mutual agreement of the partners.
6. Signatures. This Agreement shall be executed by the partners on the date first above written.

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GENERAL PARTNER NAME [LIMITED PARTNER NAME]

3- Joint Venture Partnership Agreement Template:

This template is suitable for partnerships between two or more businesses that are coming together to work on a specific project or initiative. This template is more complex than a basic partnership agreement and includes provisions for intellectual property, project management, and dispute resolution.

Key elements of this template include:

• The name and purpose of the joint venture partnership
• The names and addresses of the participating businesses
• The capital contributions of each partner
• The division of profits and losses
• The management structure of the partnership, including the roles and responsibilities of each partner
• The ownership and use of intellectual property
• The project timeline and deliverables
• Dispute resolution mechanisms in case of conflicts

Joint Venture Partnership Agreement Template:

[JOINT VENTURE NAME]

JOINT VENTURE AGREEMENT

THIS JOINT VENTURE AGREEMENT (“Agreement”) is made and entered into on [DATE] by and between PARTNER 1 NAME, residing at [ADDRESS] (the “Partner 1”), and PARTNER 2 NAME, residing at [ADDRESS] (the “Partner 2”), collectively referred to as “partners.”

NOW, THEREFORE, the partners agree as follows:

1. Name and Purpose. The name of the joint venture shall be [JOINT VENTURE NAME]. The purpose of the joint venture is [INSERT PURPOSE].
2. Contributions. Each partner shall contribute the following to the joint venture:

[PARTNER 1 NAME]: [CONTRIBUTION DETAILS] [PARTNER 2 NAME]: [CONTRIBUTION DETAILS]

3. Profits and Losses. The profits and losses of the joint venture shall be allocated to the partners in accordance with their respective percentage interests.
4. Term and Termination. The joint venture shall commence on [START DATE] and shall continue until [END DATE], unless earlier terminated by mutual agreement of the partners.
5. Management and Decision-Making. The partners shall have equal rights in the management of the joint venture and shall make all decisions by mutual agreement.
6. Liability. Each partner shall be liable for their own acts and omissions while acting on behalf of the joint venture.
7. Signatures. This agreement shall be executed by the partners on the date first above written.

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[PARTNER 1 NAME] [PARTNER 2 NAME]

4- Non-Profit Partnership Agreement Template:

This template is suitable for partnerships between two or more non-profit organizations that are coming together to collaborate on a specific project or initiative. This template includes provisions for funding, programmatic work, and governance.

Key elements of this template include:

• The name and purpose of the partnership
• The names and addresses of the participating non-profit organizations
• The funding and resource commitments of each partner
• The division of programmatic work and responsibilities
• The management and decision-making structure of the partnership
• The term of the partnership and the process for dissolution
• The governance and reporting requirements, including the role of a steering committee

4. LLC Partnership Agreement Template:

[LLC NAME]

LLC OPERATING AGREEMENT

THIS LLC OPERATING AGREEMENT (“Agreement”) is made and entered into on [DATE] by and among the members listed on Exhibit A attached hereto (the “Members”) who form an LLC (the “Company”).

WHEREAS, the Members desire to form a limited liability company under the laws of [STATE].

NOW, THEREFORE, the Members agree as follows:

1. Formation of LLC. The Company shall be formed on [DATE] under the laws of [STATE].
2. Capital Contributions. The Members shall contribute the following amounts to the Company’s capital:

[List of Members and their respective contributions]

3. Profits and Losses. The profits and losses of the Company shall be allocated to the members in accordance with their respective percentage interests.
4. Management and Decision-Making. The Company shall be managed by the Members or a manager appointed by the Members, in accordance with the terms of this Agreement.
5. Transfer of Membership Interests. No member shall transfer their membership interest without the unanimous consent of the other members.
6. Term and Dissolution. The Company shall continue until [DATE], unless earlier dissolved by unanimous consent of the Members.
7. Signatures. This Agreement shall be executed by the Members on the date first above written.

8. Indemnification. The Company shall indemnify and hold harmless each Member from any and all claims, damages, expenses or liabilities arising out of their activities as Members of the Company.
9. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of [STATE].
10. Amendment. This Agreement may be amended only by the unanimous consent of the Members.
11. Notices. All notices required or permitted by this Agreement shall be in writing and shall be delivered personally, by email, or by registered mail to the address specified by each Member.
12. Entire Agreement. This Agreement constitutes the entire agreement between the Members and supersedes all prior negotiations, representations, and agreements, whether written or oral, relating to the Company.

IN WITNESS WHEREOF, the Members have executed this Agreement as of the date first above written.

[MEMBER 1 NAME] [MEMBER 2 NAME]

Conclusion:

In conclusion, a business partnership agreement is an essential tool for any business looking to establish a partnership.

Depending on the nature of the partnership and the specific needs of the partners, there are several templates available for creating a partnership agreement.

By using one of above templates, businesses can ensure that their partnership is legally sound, well-defined, and structured for success.