Drafting an agreement for a business partnership, especially when you're contributing skills and services in lieu of financial investment, is crucial for ensuring clarity and fairness. Below is a basic draft of such an agreement, focusing on safety, security, and equity distribution. Please note that this is a general template and you should consult with a legal professional to tailor it to your specific circumstances and to comply with local laws.
Partnership Agreement
This Partnership Agreement ("Agreement") is made on [Date], by and between [Your Name] ("Partner A") and [Other Partner's Name] ("Partner B").
Business Purpose: The partners hereby agree to engage in the business of importing products from China, and distributing them within [Region/Country]. The business shall operate under the name [Business Name].
Contributions:
Partner A's Contribution: Partner A shall contribute to the business by handling product distribution, managing social media, customer interactions, and product photography.
Partner B's Contribution: Partner B shall contribute to the business by providing [Specify Financial Investment and Other Contributions].
Equity Distribution:
The equity in the business shall be divided as follows: Partner A: [XX]%, Partner B: [YY]%, based on their respective contributions to the business.
Profit and Loss Distribution: Profits and losses of the business shall be distributed according to the equity percentages stated above.
Management and Operations: Both partners shall participate equally in the management and decision-making processes of the business.
Safety and Security: Both partners agree to uphold the highest standards of safety and security in all business operations. This includes, but is not limited to, the safe handling of products, secure financial transactions, and the protection of customer data.
Confidentiality: Both partners agree to maintain confidentiality regarding the business's trade secrets, customer information, and other sensitive data.
Dispute Resolution: In case of any disputes, the partners agree to first seek resolution through mutual discussion. If unresolved, disputes shall be settled through arbitration.
Termination and Dissolution: Conditions for the termination of the partnership or dissolution of the business shall be as per the standard regulations unless otherwise agreed upon by both parties.
Amendment: This Agreement may be amended or modified only by a written agreement signed by both partners.
Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [Jurisdiction].
Signature:
Partner A: ___
Date: ___
Partner B: ___
Date: ___
Disclaimer: This draft is for informational purposes only and does not constitute legal advice. It is advised to consult with a legal professional for advice and to customize this agreement according to your specific needs and local laws.
