Free Business Partnership Contract Template

Business Partnership Contract

This Business Partnership Contract ("Contract") is made and entered into on [Date] by and between [Your Name], residing at [Your Company Address], and [Partner's Name], residing at [Partner's Address], to establish a formal partnership with the aim of [briefly describe the primary objective of the partnership. This Contract serves to delineate the rights, responsibilities, and obligations of each party, providing a framework for collaboration and mutual benefit.

1. Purpose

The purpose of this partnership is to enhance our market presence in the Asia-Pacific region through collaborative marketing initiatives and joint product development efforts, ultimately driving mutual business growth and expansion.

2. Term

This partnership shall commence on [DATE] and shall continue for a term length of three (3) years. Either party may terminate this Contract upon notice period, sixty (60) days written notice to the other party.

3. Contributions

  • [Your Name] agrees to contribute expertise in market analysis, access to their established network of clients in the healthcare sector, and dedicated resources for the development of marketing campaigns and promotional materials.

  • [Partner's Name] agrees to contribute innovative technological solutions tailored to the healthcare industry, technical support for integration and implementation, and access to their research and development team for collaborative product enhancements.

4. Ownership and Equity

Ownership interests in the partnership shall be distributed as follows:

  • [Your Company Name]: 60% ownership interest

  • [Partner's Company Name]: 40% ownership interest

5. Management and Decision Making

  • Both partners shall have equal decision-making authority in all matters relating to the partnership.

  • Major decisions, defined as those significantly impacting the partnership's direction or finances, shall require the unanimous consent of both partners.

6. Finance and Accounting

  • The partners agree to maintain accurate and transparent financial records of all partnership transactions, which shall be accessible to both parties for review.

  • Profits and losses shall be distributed equally between the partners, reflecting the collaborative nature of the partnership.

7. Dispute Resolution

Should a disagreement or dispute arise from any matter about this Contract, the involved parties have mutually agreed that the course of resolution shall be through mediation. This mediation will be overseen by a neutral third party, who has no personal or professional relationships or affiliations with either of the parties in dispute, thereby ensuring an unbiased and fair resolution process.

8. Confidentiality

The parties involved have come to a mutual agreement that they will uphold the privacy and confidentiality of any information that might be considered proprietary or sensitive. This information, which is shared within the context of their partnership, will be treated with utmost discretion to ensure its confidentiality. Consequently, any proprietary or sensitive data exchanged will be protected and guarded securely.

9. Termination

This Contract may be terminated:

  1. By mutual agreement of both partners.

  2. By either partner providing thirty (30) days written notice to the other partner.

10. Miscellaneous

  • Non-Compete: Both partners agree not to engage in any business activities that directly compete with the partnership's core operations during the term of this Contract.

  • Confidentiality: Both partners agree to maintain the confidentiality of any sensitive information shared during the partnership, including but not limited to business strategies, customer data, and trade secrets.

  • Governing Law: This Contract shall be governed by and construed following the laws of [jurisdiction], and any disputes arising out of or relating to this Contract shall be resolved through arbitration in [city], by the rules of the [Arbitration Organization].

  • Amendment: Any amendments or modifications to this Contract must be made in writing and signed by both partners.

  • Entire Agreement: This Contract constitutes the entire agreement between the parties concerning the subject matter herein and supersedes all prior agreements and understandings, whether written or oral.

  • Severability: If any provision of this Contract is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.

11. Signatures

The parties hereby execute this Contract as of the date first above written.

[YOUR NAME]

[YOUR COMPANY NAME]

[DATE SIGNED]

[PARTNER'S NAME]

[PARTNER'S COMPANY NAME]

[DATE SIGNED]

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