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Partnership Agreement
Legally binding agreement establishing the terms, rights, and obligations of a business partnership.
Partnership
Partners
Terms
Content
Financials
Dissolution
Witness
Settings
Partnership Name
Partnership Type
Select…
General Partnership
Limited Partnership
Limited Liability Partnership
Business Address
Business Purpose
The partnership is organized for the purpose of engaging in information technology services, software development, digital marketing, and related business activities.
Partners
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#1
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Full Name
Capital Contribution
Profit Share
Role
#2
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Full Name
Capital Contribution
Profit Share
Role
Commencement Date
Duration
Management Structure
The partnership shall be managed by the Managing Partner who shall have general authority to bind the partnership in all matters related to the ordinary course of business. Major decisions requiring capital expenditure exceeding PHP 100,000 shall require unanimous written consent of all partners.
Decision Making
Routine business decisions shall be made by the Managing Partner. Strategic decisions, including admission of new partners, amendment of this Agreement, or dissolution, shall require unanimous written consent of all existing partners.
Banking Arrangements
The partnership shall maintain a business bank account in the partnership name. All disbursements above PHP 50,000 shall require co-signatures of both partners. The Technology Partner shall maintain the partnership's accounting records using cloud-based accounting software.
Profit & Loss Distribution
Net profits and losses of the partnership shall be distributed among partners in proportion to their profit-sharing percentages as stated herein. Distributions shall be made quarterly, following the preparation of quarterly financial statements. No partner may draw against anticipated profits without prior written consent of all partners.
Dissolution Clause
The partnership may be dissolved by: (a) unanimous written agreement of all partners; (b) death or legal incapacity of any partner, unless surviving partners agree to continue; (c) court order. Upon dissolution, assets shall be liquidated, liabilities paid, and remaining assets distributed in proportion to partners' capital accounts.
Witness Name
Witness Title
Page Size
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A4
Letter
Legal
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Times-Roman
Helvetica
Courier
Roboto
Source Sans 3
JetBrains Mono
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