Interior Design Partnership Agreement
This Interior Design Partnership Agreement ("Agreement") is made and entered into as of [Month, Day, Year], by and between [Your Company Name], of [Your Company Address] and [Your Partner Company Name / Second Party], of [Your Partner Company Name / Second Party Address] (collectively, the "Parties"). The Parties desire to engage in a business partnership for the purpose of providing interior design services. This Agreement outlines the terms and conditions under which the Parties will operate and share responsibilities in their joint venture.
I. Nature of Partnership
The Partnership established under this Agreement shall operate under the name [Partnership Name]. The primary business of the Partnership shall be to provide a range of interior design services, including but not limited to planning, sourcing, and executing interior designs for residential and commercial buildings. Both Parties agree that their goal is to combine resources to enhance competitiveness, share financial and operational responsibilities, and capitalize on combined expertise.
II. Contributions and Ownership
Both Parties hereby agree to contribute resources to the Partnership as follows: [Your Company Name] shall contribute an initial capital of [$0], and [Your Partner Company Name / Second Party] shall match this with an equivalent capital of [$0]. Apart from financial capital, both Parties will contribute their respective client lists, supplier relationships, and experience to the Partnership. Ownership in the Partnership shall be divided equally, with each Party holding a [50]% share.
III. Profit, Loss, and Distribution
The net profits and losses of the Partnership will be divided equally and will follow the ownership percentages as described in Article II. Distributions of profits will be made quarterly unless otherwise agreed upon by all Partners in writing. Losses will be borne in the same proportion unless a Partner opts to infuse additional capital to cover losses beyond their proportional share, in which case, new agreements may be formulated by the Parties.
IV. Management and Operations
Operational and day-to-day management duties shall be shared between the Parties. [Your Company Name] will primarily handle client consultation and project conceptualization phases, whereas [Your Partner Company Name / Second Party] will oversee procurement, logistics, and implementation. Each Party shall have equal say in strategic decisions, and any disagreements over such decisions shall be settled through mediation or, as a last resort, arbitration.
V. Termination and Dissolution
The Partnership may be dissolved at any time by unanimous written consent of all the Partners or by any other legal means as regulated under the laws of the jurisdiction in which the Partnership is formed. Upon dissolution, assets and liabilities shall be liquidated and settled according to the ownership percentages, unless stipulated otherwise in a subsequently written and signatory-bound agreement by the Parties.
Signatures
Each Party acknowledges that, by their signature below, they have read, understood, and agreed to the terms and conditions of this Interior Design Partnership Agreement.
[Your Name]
[Your Company Name]
[Month, Day, Year]
[Partner Name Representative]
[Your Partner Company Name / Second Party]
[Month, Day, Year]
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