Free Partnership Contract Template
Partnership Contract
This Partnership Contract (the "Contract") is drawn up this 5th day of October 2050 (the “Effective Date”), by and between, [Your Name] (the "Developer"), situated at [YOUR COMPANY ADDRESS] and [Client's Name] (the "Marketing Specialist"), situated at 3416 Canis Heights Drive, Los Angeles, CA 90017. Collectively, the entities involved are referred to as the "Parties," and individually as a "Party."
RECITALS
WHEREAS, the Developer is engaged in the business of developing software applications,
WHEREAS, the Marketing Specialist is engaged in the business of marketing software applications, and
WHEREAS, the Parties desire to enter into a joint venture for the development and marketing of a new software application leveraging the expertise and resources of both Parties to create and market a unique, cutting-edge software product.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and covenants contained herein, and intending to be legally bound hereby, the Parties agree as follows:
1. TERM AND TERMINATION
The duration or term of this Agreement will start or begin on the date that is considered to be the Effective Date. Once it commences, this Agreement will continue to stay in effect without any determined or definitive end date. However, the continuous nature of this Agreement can be altered and it will cease to be in effect if it is terminated by either of the two Parties involved. The stipulation for termination is that there must be a written notice made by the Party wishing to terminate the Agreement.
2. CONTRIBUTIONS AND COMPENSATION
All the financial details about each Party's contributions, the equity stake held by each, and the percentages at which profits will be shared, along with any other financial aspects relevant to this Agreement, shall be thoroughly detailed and outlined in Appendix A, which is attached to this document for your reference. By doing this, Appendix A is made an integral part of this Agreement through this statement.
3. DISPUTE RESOLUTION
In the event of any disputes that arise as a result of this Agreement, they are to be resolved through arbitration. This arbitration is expected to be conducted according to the rules and regulations of the American Arbitration Association that are effective at that particular time.
4. GOVERNING LAW
This Agreement shall be regulated and interpreted by, and under, the jurisdiction of the laws established by the State of California.
5. CONFIDENTIALITY
Both Parties involved in this Agreement, mutually agree and commit to uphold absolute confidentiality. This confidentiality covers proprietary information, trade secrets, business strategies, and all other information that directly pertains to this Agreement. The commitment to secrecy isn't only limited to the active term of this Agreement, but it extends beyond its termination. The Parties will continue to keep all aforementioned information confidential even after the termination of this Agreement.
6. INDEMNITY
Each Party that is involved in this Agreement shall take full responsibility to provide indemnification and ensure the safety of the other Party, protecting them from any potential claims or accusations. In addition, they should also guard the other Party against any damages, liabilities, costs, and expenses that may occur as a result of a violation or breach of the terms, conditions, and representations established in this Agreement.
7. ENTIRE AGREEMENT
This Agreement represents the entire agreement between the Parties and supersedes all prior agreements and understandings relating to its subject matter. This Agreement may only be amended in writing and signed by both Parties.
IN WITNESS WHEREOF, the Parties to this Agreement have caused it to be executed on the Effective Date.
[Your Name]
[DATE SIGNED]
[CLIENT'S NAME]
[DATE SIGNED]
