Business partnership terms and profit sharing between two or more partners.
PARTNERSHIP AGREEMENT
This Partnership Agreement is made on [DATE] between [PARTNER 1 NAME] and [PARTNER 2 NAME] ("Partners").
1. PARTNERSHIP NAME AND PURPOSE
Partnership shall be known as [PARTNERSHIP NAME] and engage in the business of [BUSINESS DESCRIPTION].
2. CAPITAL CONTRIBUTIONS
Initial capital contributions: [PARTNER 1]: $[AMOUNT], [PARTNER 2]: $[AMOUNT]. Additional contributions require mutual consent.
3. PROFIT AND LOSS SHARING
Profits and losses shall be shared: [PARTNER 1]: [PERCENTAGE]%, [PARTNER 2]: [PERCENTAGE]%.
4. MANAGEMENT AND AUTHORITY
Partners shall have equal management authority. Major decisions require unanimous consent. Day-to-day operations may be handled individually.
5. PARTNERSHIP DUTIES
Each partner shall devote [TIME COMMITMENT] to partnership business and act in good faith and partnership's best interests.
6. DISSOLUTION
Partnership may be dissolved by mutual consent, death, withdrawal, or bankruptcy.
PARTNER 1: _________________ PARTNER 2: _________________
[PARTNER 1 NAME] [PARTNER 2 NAME]
Date: ___________ Date: ___________
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A Partnership Agreement establishes the terms of a business partnership, including capital contributions, profit sharing, management responsibilities, and dissolution procedures.