Checklist Partnership Agreement

{{company_logo}}

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Partnership Agreement Checklist

**Date:** {{checklist_date}}

**Proposed Partnership Name:** {{partnership_name}}

**Purpose of Checklist:** To ensure all essential elements are considered and agreed upon prior to drafting the formal Partnership Agreement.

I. Parties to the Agreement

1. Full legal names of all partners: {{partner_1_name}}, {{partner_2_name}}, {{partner_3_name}}

2. Residential/Business addresses of all partners: {{partner_1_address}}, {{partner_2_address}}, {{partner_3_address}}

3. Contact details (phone, email) for all partners: {{partner_1_contact}}, {{partner_2_contact}}, {{partner_3_contact}}

4. Type of partnership (e.g., General Partnership, Limited Partnership, Silent Partnership): {{partnership_type}}

II. Business Objective and Scope

1. Clear statement of the partnership's business purpose and objectives: {{business_purpose}}

2. Intended duration of the partnership (fixed term or indefinite): {{duration_of_partnership}}

3. Geographical scope of operations: {{geographical_scope}}

4. Any limitations or exclusions to the business activities: {{business_limitations}}

III. Capital Contributions and Ownership

1. Initial capital contribution of each partner (monetary, assets, intellectual property, services):

- {{partner_1_contribution_details}} (Value: {{partner_1_contribution_value}})

- {{partner_2_contribution_details}} (Value: {{partner_2_contribution_value}})

- {{partner_3_contribution_details}} (Value: {{partner_3_contribution_value}})

2. Agreed-upon percentage of ownership for each partner: {{partner_1_ownership_percentage}}%, {{partner_2_ownership_percentage}}%, {{partner_3_ownership_percentage}}%

3. Procedure for additional capital contributions: {{additional_capital_procedure}}

4. Treatment of loans made by partners to the partnership: {{partner_loans_treatment}}

IV. Profit and Loss Distribution

1. Agreed-upon percentage or method for distributing profits: {{profit_distribution_method}}

2. Agreed-upon percentage or method for allocating losses: {{loss_allocation_method}}

3. Frequency of profit distribution (e.g., monthly, quarterly, annually): {{distribution_frequency}}

4. Policy on reinvestment of profits vs. distribution: {{reinvestment_policy}}

V. Management and Decision-Making

1. Roles and responsibilities of each partner: {{partner_roles_and_responsibilities}}

2. Decision-making process for day-to-day operations (e.g., majority vote, unanimous consent for specific decisions): {{day_to_day_decision_process}}

3. Decision-making process for major decisions (e.g., capital expenditure, new business lines, sale of assets): {{major_decision_process}}

4. Appointment of a managing partner or management committee, if any: {{managing_partner_details}}

5. Authority limits for individual partners to bind the partnership: {{partner_authority_limits}}

VI. Partner Duties and Compensation

1. Expected time commitment from each partner: {{partner_time_commitment}}

2. Designation of active vs. passive partners (if applicable): {{partner_designation}}

3. Provisions for partner salaries, draws, or other compensation: {{partner_compensation_details}}

4. Restrictions on outside business activities of partners: {{outside_business_restrictions}}

VII. Dispute Resolution

1. Preferred method for resolving disputes (e.g., negotiation, mediation, arbitration, litigation): {{dispute_resolution_method}}

2. Process for initiating dispute resolution: {{dispute_resolution_process}}

3. Choice of law to govern the agreement: {{governing_law}}

VIII. Withdrawal, Dissolution, and Buyout

1. Conditions under which a partner may withdraw from the partnership: {{withdrawal_conditions}}

2. Process and valuation method for a partner buyout: {{buyout_process_and_valuation}}

3. Provisions for dissolution of the partnership: {{dissolution_provisions}}

4. Distribution of assets and liabilities upon dissolution: {{asset_liability_distribution}}

IX. General Provisions

1. Confidentiality clauses: {{confidentiality_clauses}}

2. Non-compete clauses (if applicable): {{non_compete_clauses}}

3. Indemnification provisions: {{indemnification_provisions}}

4. Amendments to the agreement: {{amendment_process}}

5. Force Majeure clauses: {{force_ majeure_clauses}}

X. Signatures

IN WITNESS WHEREOF, the parties have executed this Partnership Agreement Checklist on the date first written above.

___________________________

{{partner_1_name}}

Date: {{signature_date_1}}

___________________________

{{partner_2_name}}

Date: {{signature_date_2}}

___________________________

{{partner_3_name}}

Date: {{signature_date_3}}