PARTNERSHIP AGREEMENT
This Partnership Agreement (the "Agreement") is made as of [Date] by and between the undersigned Partners (collectively, the "Partners").
1. Partnership Name and Purpose
* Name: The Partners shall conduct business under the name: [Business Name].
* Purpose: The primary purpose of the Partnership is [Description of Business Activity].
2. Capital Contributions
Each Partner shall contribute the following initial capital to the Partnership:
* Partner A: [Amount/Asset Description]
* Partner B: [Amount/Asset Description]
Future capital calls shall be decided by a [Majority/Unanimous] vote of the Partners.
3. Profit and Loss Allocation
The net profits and losses of the Partnership shall be shared by the Partners in proportion to their respective ownership interests:
* Partner A: [Percentage]%
* Partner B: [Percentage]%
Distributions of profit shall be made [Monthly/Quarterly/Annually].
4. Management and Voting
* Authority: Each Partner has the authority to bind the Partnership in ordinary business transactions unless otherwise specified.
* Major Decisions: Decisions regarding loans, asset sales, or entering into new contracts exceeding [Amount] require the [Unanimous] consent of all Partners.
5. Withdrawal and Dissolution
1. Withdrawal: A Partner may withdraw by providing [Number] days' written notice. The remaining Partners have the right of first refusal to purchase the departing Partner's interest.
2. Dissolution: Upon dissolution, the assets of the Partnership shall be used to pay debts first, with remaining funds distributed to Partners according to their capital accounts.
6. Dispute Resolution
Any disputes arising from this Agreement shall be resolved through [Mediation/Arbitration] before seeking legal action in court.
7. Governing Law
This Agreement shall be governed by the laws of the jurisdiction of [Jurisdiction Name].
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IN WITNESS WHEREOF, the Partners have signed this Agreement as of the date first written above.