Partnership Agreement Disclaimer
The information provided serves solely as a general example related to joint venture arrangements where ownership splits are unequal. It is not intended as legal advice and should not replace consultation with a qualified attorney experienced in business partnerships and contractual law. Regulations and legal requirements vary by jurisdiction, so appropriate modifications may be necessary to ensure compliance. Users assume all responsibility for the use of this example, and no liability is accepted for errors, omissions, or consequences from its application without professional legal review.
Please note: This is a preliminary template for a 70/30 Partnership Agreement in the US, provided for illustrative purposes only. Actual terms should be tailored to specific partnerships and legal advice obtained accordingly.
70/30 Partnership Agreement Sample
Parties Involved:
Partner A: [Name or Business Name]
Address: [Address of Partner A]
Partner B: [Name or Business Name]
Address: [Address of Partner B]
Purpose of Partnership:
The partners agree to collaborate in [describe business activity], sharing profits and losses according to the terms outlined below.
Profit and Loss Distribution:
Partner A shall receive seventy percent (70%) of the net profits, while Partner B shall receive thirty percent (30%), with losses shared similarly.
Capital Contributions:
Partner A agrees to contribute [describe contribution], and Partner B agrees to contribute [describe contribution], as initial capital for the partnership.
Partner Responsibilities:
Each partner shall perform duties pertinent to their role and shall act in good faith to promote the success of the partnership.
Duration and Termination:
This agreement shall commence on [start date] and continue until terminated by mutual consent or as per the terms herein.
Governing Law:
This agreement shall be governed by the laws of the State of [State]. Disputes shall be resolved within the jurisdiction of the courts of [State].
Additional Provisions:
- Any amendments to this agreement must be in writing and signed by both parties.
- Partners agree to keep accurate records of all transactions related to the partnership.
- The partnership may be dissolved by mutual agreement, or as otherwise specified herein.
[City], ______________________
[Partner A Name]
[Partner B Name]