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60 40 Partnership Agreement
"I need a 60/40 Partnership Agreement for a new tech consulting business starting in March 2025, where I'll be the majority partner contributing technical expertise and initial funding, while my partner brings client relationships and industry contacts."
1. Parties: Details of the partners entering into the agreement
2. Background: Context and purpose of the partnership
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: 60/40 split details and capital contributions
5. Management Rights: Decision-making processes and voting rights
6. Profit and Loss Distribution: How profits and losses will be shared
7. Duration: Term of partnership and renewal provisions
8. Termination: Circumstances and process for ending the partnership
1. Non-compete: Restrictions on competing activities when partners may have competing interests
2. Intellectual Property: Ownership and use of IP when relevant to the business
3. Death/Incapacity: Procedures following death or incapacity of a partner
4. International Operations: Provisions for international business when operating across borders
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments
2. Schedule 2: Business Plan: Initial business plan and objectives
3. Schedule 3: Asset Register: List of partnership assets and their ownership
4. Appendix A: Partner Contact Details: Contact information for all partners
5. Appendix B: Banking Arrangements: Details of partnership bank accounts and signatories
Authors
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Partner
Distribution
Financial Year
Initial Capital Contribution
Intellectual Property Rights
Majority Partner
Management Committee
Managing Partner
Minority Partner
Partnership
Partnership Account
Partnership Assets
Partnership Interest
Partnership Property
Partnership Share
Profit and Loss Account
Quarter
Reserved Matters
Tax
Territory
Transfer
Valuation
Working Capital
Duration and Term
Capital Contributions
Partnership Interests
Profit and Loss Distribution
Management and Control
Decision Making
Reserved Matters
Banking Arrangements
Accounting and Records
Partner Duties
Non-Competition
Confidentiality
Intellectual Property
Transfer of Partnership Interest
Admission of New Partners
Death or Incapacity
Default Events
Termination
Dissolution
Dispute Resolution
Force Majeure
Notices
Amendment and Modification
Entire Agreement
Severability
Governing Law
Working Capital
Business Operations
Partnership Property
Tax Matters
Insurance
Representations and Warranties
Assignment
Third Party Rights
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