If you are looking to create a partnership agreement for two or more individuals or entities, it is important to ensure that this document covers as many specifics as possible. The last thing you want is to sign a partnership agreement that is not detailed enough, because that will only lead to confusion in the future. The best way to get over this is to look at a Partnership Agreement Template on Word. This Partnership Agreement Template is perfect for those who are looking to seal a deal, especially if you do not want to get lawyers involved in the process.
It is very easy to use this partnership document template. Simply download the file from the link available, open it up in Microsoft Word, and begin editing to your satisfaction. Change the title so that it contains details about both parties, in addition to the company that is being partnered up.
The simplest way to seal a partnership agreement is to contact a lawyer and have them draw up papers. However, this process can take time and it costs a lot of money. If neither party is in the position to afford legal fees, simply use the Partnership Agreement Template as a guide for your agreement. Most of the basics are already outlined on the Partnership Agreement Template, and you can use those to build on even more details. Here is a look at some of the major features of the Partnership Agreement Template.
Features of the Partnership Agreement Template
The Partnership Agreement Template highlights the formation of a contract between two parties, in addition to the term and purpose of this contract. The contract could be for six months or six years, depending on what the parties have agreed on. Capital contributions are also specified in most partnership agreements, which allows both parties to be aware of their financial responsibilities. A valuation of the partnership is essential, in addition to determining which party holds the majority stake in the company/entity.
If there is a statement in the partnership agreement that does not apply to your particular case, you may delete it from the template. It is just as easy to add elements to the template, which is what makes it so useful. The best way to do this is to give both parties a few days to think about any clauses or stipulations they may want in the deal. After both parties have thought up ideas, come together and figure out what belongs in the agreement and what can be left out.
Download: Partnership Agreement Template