A partnership agreement template is a legitimate agreement which is prepared by parties of interest, whenever they’re going to start a partnership. Being written agreement, the chances of conflict are minimum and that is is the beauty of this template. Whenever companies wish to share capital for business purpose, they should sign partnership agreement. This can save them in number of issues which are; settlement of profit or loss, investment of both parties, agreement date, official information of both parties and life of agreement. Nevertheless, a partnership agreement template is aimed to help the both parties in case when a single or both partners may find themselves guilty in some future time.
A partnership agreement template is a legal agreement where two or more parties or groups or individuals who agree to start a business by inserting own share as capital against consideration known as profit. In case of loss, they will share as per capital ratio or any other agreed ratio base on agreement. The business can be carried on by all or any of them acting for all as per agreement. Being a legal agreement, it contains various clauses about the partnership business which includes but not limited; names and addresses of all partners, contribution of capital, admission of new partners, operations of business, profit ratio and dissolution. This partnership agreement template must be prepared making sure that it should complete from all aspects and must contains guidelines for new users whether it is about profit distribution or the resolution of disputes.