Partnership Agreement (Two Companies)
This Partnership Agreement governs the relationship between two companies that are partners.Document Overview
This Partnership Agreement governs the relationship between two companies that are partners.
If your business structure is a partnership, it is subject to the regulations within the Corporations Act 2001 (Cth). However, within the scope of the law the partners are free to decide upon:
- termination;
- dispute resolution; and
- decision-making.
A corporate person or a company as partner has the same rights and obligations as a natural person who is a partner. For a partnership agreement tailored for partners who are individuals, see:
Precedent includes a guarantee
This precedent incorporates a guarantee provided by representatives of the partners for the performance of obligations under this agreement. The guarantee provided is simple, as this is a precedent, but might need to be customised based on the customised requirements of the parties forming a partnership.
What does the Partnership Agreement cover?
- Partnership name and business address;
- Names of the partners;
- Maintenance of the Partnership account;
- Duties and limitations of each partner;
- Sharing of capital and property, profit or losses;
- Operation of partner’s shares;
- Insurance;
- Rules governing dissolution of the Partnership; and
- Dispute resolution.
