Sample of Business Partnership Agreement Letter
When it comes to starting a business partnership, a solid agreement letter is a necessary document to ensure that both parties are on the same page. The letter outlines the terms and conditions of the partnership, including ownership percentages, management responsibilities, and profit sharing.
Here`s a sample business partnership agreement letter that can serve as a template for your own:
Dear [Partner`s Name],
I am writing to propose a business partnership between us, with the goal of [insert purpose of the partnership].
We each bring unique skills and experiences to the table, and by working together, we believe we can create a successful and profitable venture.
The following are the terms and conditions of the partnership:
1. Ownership: We will each own [insert percentage] of the business.
2. Management: Our management responsibilities will be divided as follows: [insert responsibilities].
3. Profit sharing: We will split the profits [insert percentage] each.
4. Capital contributions: We will contribute [insert amount] each to start the business.
5. Decision making: Major decisions will be made jointly, with a simple majority vote required for approval.
6. Dispute resolution: Any disputes will be resolved through mediation or arbitration.
7. Termination: Either partner may terminate the partnership by giving [insert notice period] notice.
This agreement is intended to be binding and enforceable, and we both agree to act in good faith towards each other and the success of the business.
Please let me know if you have any questions or concerns, and I look forward to working with you to achieve our shared goals.
Sincerely,
[Your Name]
In summary, a business partnership agreement letter should clearly outline the terms of the partnership, including ownership, management, profit sharing, and decision-making. It`s important to have this agreement in writing to avoid any misunderstandings or disagreements down the road. Use the above sample letter as a guide to create your own partnership agreement and ensure a successful collaboration with your business partner.
