Document background
The Partnership Framework Agreement serves as the foundational document for establishing and governing business partnerships in New Zealand. This agreement is particularly useful when parties wish to create a long-term partnership structure while maintaining flexibility for future developments. It addresses key aspects required under New Zealand's Partnership Law Act 2019 and related legislation, including partner contributions, profit sharing, governance, and dispute resolution. The document is designed to accommodate various business sizes and types, from small local partnerships to large-scale commercial ventures. It includes provisions for partner entry and exit, financial management, and operational procedures, making it suitable for both simple and complex partnership arrangements. The framework nature of the agreement allows it to serve as a master agreement that can be supplemented with specific operational agreements as the partnership evolves.
