An agreement between two or more partners starting a business together — contributions, profit split, decision-making, and exit terms.
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This Business Partnership Agreement ("Agreement") is entered into as of [Effective Date] between the following partners: [Partner Names] (each a "Partner"), forming a partnership under the name [Partnership Name] (the "Partnership").
The Partnership will engage in the business of [Description of Business].
Each Partner will contribute the following to the Partnership: [Contributions — cash, property, or services, and amounts].
Ownership interests and the split of profits and losses among Partners are as follows: [Split — e.g. by percentage].
Day-to-day management is handled by [Managing Partner(s) / all Partners jointly]. Major decisions ([List — e.g. taking on debt above $X, admitting a new partner]) require [Approval Threshold — e.g. unanimous consent, majority vote].
Profits will be distributed to Partners [Frequency — e.g. quarterly], after reserving funds for [Reserves/Expenses] as agreed by the Partners.
Admitting a new partner requires [Approval Threshold]. A Partner who wishes to withdraw must give [Number] days’ written notice; their interest will be valued and bought out according to [Valuation Method], unless the Partners agree otherwise.
The Partnership may be dissolved by [Approval Threshold] or upon [Triggering Events]. Upon dissolution, assets will be liquidated and distributed after paying debts, in accordance with each Partner’s ownership interest.
This Agreement is governed by the laws of the State of [State / Jurisdiction].
Partner Signature: _______________________ Date: _______________
Partner Signature: _______________________ Date: _______________