A partnering agreement is a legal document that outlines the terms and conditions of a business partnership between two parties. This document helps to clarify the expectations of each partner and establish a framework for collaboration.
If you are considering entering into a business partnership, it is important to have a partnering agreement in place. This document can help to prevent misunderstandings and disputes in the future.
To help you get started, we have provided a partnering agreement sample below. This sample agreement includes some of the key elements that should be included in a partnering agreement.
Partnering Agreement Sample
This partnering agreement (the “Agreement”) is made and entered into on [insert date] by and between [insert name of Partner A], a [insert type of organization] organized under the laws of [insert state or country], with its principal place of business located at [insert address] (“Partner A”), and [insert name of Partner B], a [insert type of organization] organized under the laws of [insert state or country], with its principal place of business located at [insert address] (“Partner B”).
1. Purpose and Scope. This Agreement outlines the terms and conditions of a business partnership between Partner A and Partner B for the purpose of [insert purpose of partnership]. The scope of the partnership shall be limited to [insert scope of partnership].
2. Responsibilities of Each Partner. Partner A and Partner B shall each have the following responsibilities:
a. [insert responsibilities of Partner A]
b. [insert responsibilities of Partner B]
3. Term and Termination. This Agreement shall commence on [insert start date] and shall continue until [insert end date or termination event]. Either party may terminate this Agreement at any time upon written notice to the other party.
4. Intellectual Property. Each party shall retain ownership of its own intellectual property, and the use of each other’s intellectual property shall be limited to the scope of the partnership outlined in this Agreement.
5. Confidentiality. Both parties shall keep confidential any information that is designated as confidential by the other party or that should reasonably be considered confidential based on its nature.
6. Dispute Resolution. In the event of a dispute arising under this Agreement, the parties shall attempt to resolve the dispute through mediation. If mediation is unsuccessful, the parties may pursue legal action.
7. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of [insert governing law].
8. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.
9. Amendments. This Agreement may not be amended except in writing signed by both parties.
10. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
In witness whereof, the parties have executed this Agreement as of the date first written above.
[Insert signature of Partner A]
[Insert name of Partner A]
[Insert title of Partner A]
[Insert signature of Partner B]
[Insert name of Partner B]
[Insert title of Partner B]
A partnering agreement is an important document that can help to establish a successful business partnership. This sample partnering agreement includes some of the key elements that should be included in a partnering agreement.
Whether you are entering into a new business partnership or reviewing an existing partnership, it is important to consult with legal counsel to ensure that your partnering agreement is tailored to your specific needs and circumstances. A well-written partnering agreement can help to prevent misunderstandings and disputes and set the stage for a successful partnership.