Free Partnership Contract Agreement Template
Partnership Contract Agreement
I. Introduction
This Partnership Contract Agreement (“Agreement”) is entered into on this 10th day of January, 2050, by and between:
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[Your Company Name], a corporation registered under the laws of the State of Colorado, with its principal office located at [Your Company Address], represented by [Your Name] ("Party A").
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ZenExa, a corporation registered under the laws of the State of Colorado, with its principal office located at Denver, CO 80202, represented by Jolie Cassin ("Party B").
The parties hereby agree as follows:
II. Purpose of Agreement
This Agreement is made for the purpose of establishing a mutually beneficial partnership between [Your Company Name] and ZenExa. The partnership is aimed at combining resources, expertise, and market access to pursue shared business goals, develop joint products or services, and engage in collaborative marketing and distribution efforts.
III. Roles and Responsibilities
1. Responsibilities of [Your Company Name]
[Your Company Name] agrees to:
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Contribute the necessary capital, resources, and personnel to support the joint projects and initiatives as defined in this Agreement.
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Ensure timely delivery of services and products as agreed upon.
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Collaborate in marketing, sales, and promotional efforts.
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Provide ongoing support and technical assistance, if applicable, to facilitate the success of the partnership.
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Maintain regular communication with ZenExa regarding the progress of the partnership and any potential issues.
2. Responsibilities of ZenExa
ZenExa agrees to:
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Contribute necessary capital, resources, and personnel to support joint projects and initiatives outlined in this Agreement.
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Actively participate in marketing, sales, and promotional efforts as agreed upon.
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Provide regular updates and information to [Your Company Name] regarding progress and challenges.
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Maintain open lines of communication with [Your Company Name] to resolve any concerns or issues quickly.
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Ensure timely payments, if applicable, for any joint venture expenses or services rendered.
IV. Financial Contributions and Profit Sharing
1. Financial Contributions
Each party agrees to contribute an initial sum of $100,000 to the partnership fund to cover the costs of initial projects, development, and operational needs. Additional contributions may be requested by mutual agreement, depending on the evolving requirements of the partnership.
2. Profit Sharing
The profits generated from the partnership will be distributed as follows:
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[Your Company Name] will receive 60% of the net profits.
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ZenExa will receive 40% of the net profits.
The net profits will be calculated after deducting all operational costs, taxes, and other applicable expenses incurred during the course of the partnership. Profit distribution will occur on a quarterly basis, with payments made within 30 days following the end of each fiscal quarter.
V. Intellectual Property
1. Ownership of Intellectual Property
Each party retains ownership of any intellectual property created prior to or outside the scope of this partnership. However, any intellectual property developed jointly during the term of this partnership, including but not limited to new products, services, and proprietary technologies, will be jointly owned by both parties.
2. Use of Intellectual Property
Each party grants the other a non-exclusive, royalty-free license to use their respective intellectual property solely for the purposes of carrying out this partnership. Any use outside of this purpose will require prior written consent from the owning party.
VI. Confidentiality
Both parties agree to maintain the confidentiality of all proprietary, business, and technical information exchanged during the partnership. This obligation extends beyond the termination of the partnership for a period of 5 years. The confidentiality provisions of this Agreement will not apply to any information that is publicly available or that is required to be disclosed by law.
VII. Term and Termination
This Agreement will commence on the 10th day of January, 2050, and shall remain in effect until 10th day of January, 2055, unless terminated earlier in accordance with the termination provisions set forth herein.
1. Termination for Convenience
Either party may terminate this Agreement by providing 60 days written notice to the other party.
2. Termination for Breach
In the event that either party breaches any material term or condition of this Agreement, the other party may terminate the Agreement upon providing 30 days written notice. The breaching party shall have the opportunity to cure the breach within the notice period.
3. Effect of Termination
Upon termination of this Agreement, the parties agree to wind down the partnership and resolve any outstanding financial obligations or claims within 90 days. Both parties will also agree on the disposition of jointly owned intellectual property.
VIII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to its conflict of laws principles. Both parties agree to resolve any disputes arising out of or in connection with this Agreement in the courts located in Colorado.
IX. Miscellaneous Provisions
1. Entire Agreement
This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof and supersedes all prior agreements, whether oral or written, between the parties.
2. Amendments
Any amendments or modifications to this Agreement must be made in writing and signed by both parties.
3. Force Majeure
Neither party will be held liable for any delay or failure to perform due to circumstances beyond their reasonable control, including but not limited to acts of nature, war, or government regulations.
X. Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the 10th day of January, 2050.
[Your Company Name]
[Your Name]
Position: Chief Financial Officer
Date: 10th January, 2050
ZenExa
Jolie Cassin
Position: Chief Marketing Officer
Date: 10th January, 2050
For any inquiries, please contact [Your Name] at [Your Email] or reach out to [Your Company Name] at [Your Company Email].
