Checklist Partnership Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

1. Partnership Identification

1.1. Full legal names of all partners: {{partner_1_name}}, {{partner_2_name}}, [Add more as necessary]

1.2. Business name and proposed trading name: {{business_name}}

1.3. Principal place of business: {{business_address}}

1.4. Date of agreement: {{agreement_date}}

1.5. Term of partnership (fixed term or until dissolved): {{partnership_term}}

2. Purpose and Scope of Business

2.1. Clearly defined primary business objective and mission: {{business_objective}}

2.2. Description of services or products offered: {{products_services_description}}

2.3. Any limitations or restrictions on business activities: {{business_limitations}}

3. Capital Contributions and Ownership

3.1. Initial financial contributions from each partner: {{partner_1_capital}}, {{partner_2_capital}}

3.2. Valuation of non-monetary contributions (e.g., intellectual property, assets, services): {{non_monetary_contributions_description}}

3.3. Equity split/ownership percentages: {{partner_1_equity_percentage}}%, {{partner_2_equity_percentage}}%

3.4. Procedures for additional capital contributions: {{additional_capital_procedure}}

4. Profit and Loss Distribution

4.1. Agreed-upon percentage for profit distribution among partners: {{profit_distribution_percentage}}

4.2. Procedure for handling business losses: {{loss_handling_procedure}}

5. Management and Decision-Making

5.1. Roles and responsibilities of each partner: {{partner_roles_responsibilities}}

5.2. Decision-making authority and voting rights: {{decision_making_process}}

5.3. Process for resolving disagreements: {{dispute_resolution_process}}

5.4. Appointment of a managing partner (if applicable): {{managing_partner_name}}

6. Partnership Expenses and Banking

6.1. Procedure for managing partnership expenses: {{expense_management_procedure}}

6.2. Designated partnership bank account details: {{bank_name}}, {{account_number}}

6.3. Authority for signatories on partnership accounts: {{signatory_authority}}

7. Withdrawal, Dissolution, and Buy-Out

7.1. Conditions and process for a partner's withdrawal: {{withdrawal_conditions}}

7.2. Valuation method for a departing partner's share: {{buyout_valuation_method}}

7.3. Procedures for dissolving the partnership: {{dissolution_procedure}}

8. Confidentiality and Non-Compete Clauses

8.1. Confidentiality obligations regarding business information: {{confidentiality_terms}}

8.2. Non-compete clauses to prevent partners from competing with the partnership during and after their involvement: {{non_compete_terms}}

9. Governing Law and Dispute Resolution

9.1. Jurisdiction governing the partnership agreement: {{governing_jurisdiction}}

9.2. Preferred method for dispute resolution (e.g., mediation, arbitration, litigation): {{dispute_resolution_method}}

Signature Block

___________________________

Name: {{partner_1_full_name}}

Date: {{date}}

___________________________

Name: {{partner_2_full_name}}

Date: {{date}}

[Add more signature lines as necessary]

WITNESSES:

___________________________

Name: {{witness_1_full_name}}

Date: {{date}}

___________________________

Name: {{witness_2_full_name}}

Date: {{date}}