Business Partnership Agreement

Business Partnership Agreement for a Marketing Agency

This Agreement is made on [Date], by and between [Partner 1 Name], residing at [Partner 1 Address], and [Partner 2 Name], residing at [Partner 2 Address], collectively referred to as the “Partners.”

1. Partnership Name and Business

• The Partners agree to form a partnership under the name [Business Name].
• The purpose of the partnership is to operate as a [Marketing Agency] providing services such as digital marketing, social media management, and content creation.

2. Contributions

1. Capital Contributions:
   • [Partner 1 Name] will contribute $20,000 and marketing expertise.
   • [Partner 2 Name] will contribute $10,000 and graphic design skills.
2. Additional Contributions:
   • Both partners agree to contribute their time and effort to the business as needed.

3. Profit and Loss Distribution

• Profits and losses will be shared as follows:
  • [Partner 1 Name]: 60%.
  • [Partner 2 Name]: 40%.

4. Roles and Responsibilities

1. [Partner 1 Name]:
   • Oversee client acquisition and account management.
   • Develop marketing strategies and campaigns.
2. [Partner 2 Name]:
   • Handle graphic design, branding, and creative deliverables.
   • Manage content creation and design software.

5. Decision-Making

• Decisions on expenditures over $5,000 will require mutual consent.
• Day-to-day operational decisions can be made by either partner in their area of expertise.

6. Banking and Finances

• A business bank account will be opened under the partnership’s name.
• Both partners must approve withdrawals over $10,000.

7. Termination or Dissolution

• If the partnership is dissolved:
  • All debts will be settled first.
  • Remaining assets will be liquidated and distributed according to the profit-sharing percentages.

8. Dispute Resolution

• In the event of a dispute, the Partners agree to:
  1. Attempt mediation with a neutral third party.
  2. If unresolved, submit to binding arbitration.

9. Governing Law

This Agreement shall be governed by the laws of [State/Country].

Signatures:
[Partner 1 Name] ___________________________ Date: ___________________________
[Partner 2 Name] ___________________________ Date: ___________________________

Business Partnership Agreement for a Retail Store

This Agreement is made on [Date], by and between [Partner 1 Name], residing at [Partner 1 Address], and [Partner 2 Name], residing at [Partner 2 Address], collectively referred to as the “Partners.”

1. Partnership Name and Business

• The Partners agree to form a partnership under the name [Retail Store Name].
• The purpose of the partnership is to establish and operate a [Retail Store] selling [specific goods, e.g., home decor, clothing, etc.].

2. Contributions

1. Capital Contributions:
   • [Partner 1 Name] will contribute $15,000.
   • [Partner 2 Name] will contribute $15,000.
2. Other Contributions:
   • [Partner 1 Name] will provide inventory management expertise.
   • [Partner 2 Name] will provide customer service training and supervision.

3. Profit and Loss Distribution

• Profits and losses will be divided equally:
  • [Partner 1 Name]: 50%.
  • [Partner 2 Name]: 50%.

4. Roles and Responsibilities

1. [Partner 1 Name]:
   • Handle inventory procurement and stock management.
   • Negotiate supplier contracts.
2. [Partner 2 Name]:
   • Manage the storefront, including employee schedules and customer relations.
   • Handle promotions and local advertising.

5. Decision-Making

• Both partners must agree on decisions involving:
  • Hiring or firing employees.
  • Expansion of the store.
  • Expenses over $2,500.

6. Banking and Accounting

• A joint business bank account will be maintained.
• Both partners are authorized to sign checks and access bank records.

7. Termination or Dissolution

1. Voluntary Exit:
   • A partner may leave the partnership with 90 days’ written notice.
   • The remaining partner has the option to buy out the exiting partner’s share.
2. Dissolution:
   • Upon dissolution, debts will be settled, and assets divided equally.

8. Dispute Resolution

• Any disputes shall first be mediated by a mutually agreed third party.
• If mediation fails, arbitration will be the final resolution.

9. Confidentiality

• Both partners agree not to disclose confidential business information to third parties without mutual consent.

10. Governing Law

This Agreement shall be governed by the laws of [State/Country].

Signatures:
[Partner 1 Name] ___________________________ Date: ___________________________
[Partner 2 Name] ___________________________ Date: ___________________________