Free Partnership Agreement Form

The Partners

This Partnership Agreement ("Agreement") is entered into as of Month Day, Yearby and between [Your Company Name]with a primary place of business at [Your Company Address] ("First Partner"), and Second Partner's Name, located at Second Partner's Address ("Second Partner").

WHEREAS, the First Partner and the Second Partner collectively, ("Partners") desire to establish a business partnership;

WHEREAS, the Partners acknowledge the need for mutual cooperation and clearly defined roles within the partnership;

WHEREAS, the Partners wish to set forth the terms and conditions of their business relationship in this written Agreement;

NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, the Partners agree as follows:

Formation of Partnership

The partnership will operate under the name Partnership Name. Its principal place of business will be at Partnership Address. The purpose of the partnership is to engage in Partnership Purpose. Both partners agree to conduct the business diligently and in good faith, working toward the mutual benefit of the partnership.

Responsibilities

The Partners agree to define and fulfill their respective responsibilities:

Capital Contribution

Each Partner will contribute an agreed-upon amount of capital to the partnership. The First Partner will contribute Capital Amount. The Second Partner will contribute Capital Amount. Additional contributions may be required with the consent of both Partners.

Profit Distribution

Profits and losses of the partnership shall be distributed in proportion to each Partner's capital contribution, unless otherwise agreed in writing by both Partners. If profits exceed expectations, reinvestment into the business will be considered based on a unanimous vote of the Partners.

Ownership and Interests

Ownership interests in the partnership are directly tied to each Partner’s capital contribution. Any transfer or sale of a Partner’s interest must be agreed upon in writing by both Partners. All assets acquired during the partnership shall be owned jointly unless otherwise specified.

Amendments

Any amendments or modifications to this Agreement must be made in writing and signed by both Partners. Verbal agreements or understandings will not be considered binding unless reduced to writing. All changes shall be discussed in a timely manner and agreed upon mutually. Amendments will not alter any fundamental terms unless expressly agreed. Both Partners must approve amendments before they are valid.

Severability

If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions will continue to be in full force and effect. The invalid provision will be replaced with a valid provision that closely reflects the original intent. The Partners agree that the severed provision will not affect the overall validity of the Agreement. Should a legal issue arise, the Agreement shall be interpreted in favor of maintaining its enforceability.

Governing Law

This Agreement shall be governed by, and construed in accordance with, the laws of the state of State Name. Any legal action or proceeding relating to this Agreement will be brought in the courts located in State Name. Both Partners consent to the jurisdiction of such courts.

Dissolution

The partnership may be dissolved by mutual written consent of both Partners or in the event of a material breach of this Agreement by either Partner. Upon dissolution, the assets of the partnership will be distributed in proportion to the capital contributions of each Partner, after the payment of all partnership liabilities.

Miscellaneous Provisions

Entire Agreement

This Agreement constitutes the entire understanding between the Partners concerning the subject matter hereof and supersedes all prior discussions, agreements, or understandings of any kind, whether written or oral, between the Partners.

Waiver

The failure of either Partner to insist upon the strict performance of any provision of this Agreement shall not be deemed a waiver of any subsequent breach or default of the same or any other provision.

Notices

Any notices or communications required or permitted under this Agreement shall be in writing and delivered to each Partner at their respective addresses by personal delivery, certified mail, or email with confirmation of receipt.

Assignment

Neither Partner may assign or transfer any of their rights or obligations under this Agreement without the prior written consent of the other Partner.

Binding Effect

This Agreement shall be binding upon and inure to the benefit of the Partners and their respective successors, heirs, and assigns.

Signatures

By signing below, the Partners acknowledge their understanding of, and agreement to, the terms of this Partnership Agreement.

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