Free Business Partnership Agreement Template: Establish Clear Roles and Responsibilities
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This Business Partnership Agreement outlines the terms for establishing and operating a partnership between two entities, referred to as Partner A and Partner B. The agreement specifies the purpose and duration of the partnership, the location of the principal place of business, procedures for admitting new partners, capital contributions, and distribution of profits and losses. It includes provisions on voting rights, inspection of records, management structure, meetings, and handling the death of a partner. Termination conditions, amendment procedures, severability, dispute resolution, governing law, and the agreement’s supremacy over prior agreements are also covered. It serves as a comprehensive framework for governing the rights and responsibilities of the partners in a business partnership.