You will have heard that partnerships are the most risky of all business structures for new business and it is therefore a wise move to ensure that you have a quality document to protect both you, your partner/s AND your assets should the partnership fail. This means you must have all the necessary clauses to cover all contingencies.
The Australian Taxation Office has a requirement of proof of partnership in order to access lower tax rates. A partnership in the eyes of the ATO is two or more parties (persons, companies or combination of both) who share a business interest with the view to making a profit.
This agreement has the required clauses to keep them happy as well as ticking all the boxes for e-bay businesses who are required by Paypal to show a partnership contract . Paypal will lock away your income until you show evidence of this agreement being in place so be prepared. This agreement is suitable for two people, three person or four person partnership. So when we ask ‘Do you want this agreement?’ – the answer will be a resounding ‘YES! So what do you need to do?
Apart from that, ALL business advisers agree that an agreement should be set up prior to commencement of the business.
Don’t fall for the ‘we’re friends – we don’t need a contract’ line. It’s your life, it’s your money – Protect it. Remember this is BUSINESS – it has nothing to do with personal relationships. The agreement is a contract between you and your partners on the ‘rules of engagement’ in business.
This is what one customer said about our Partnership Agreement and Notes:
We used the form yesterday.
Must say, excellent document and notes. It not only guided us but allowed us to tailor it to our specific requirements exactly.
Well worth the money and we will bookmark you so that when we need new docs your site will be the first port of call.
THINK Facilities Management.
‘YES! So what do you need to do?
CONSIDER THE THREE MOST IMPORTANT REASONS WHY YOU SHOULD BUY THIS PARTICULAR PARTNERSHIP AGREEMENT ?
- You can have it NOW -
- It’s comprehensive – includes ALL aspects
- It’s inexpensive
This isn’t just a partnership agreement template, but a course including checklists and most of the information you need to be aware of when starting out in a partnership.
- Easy Access. You can download and be working on it within five minutes. As soon as the payment is made we EMAIL you a download link (at the bottom of a page that looks like this – so don’t forget to scroll down- you have not be sent back to the website) . Simple!
- Explanatory Notes are enclosed to help you understand the clauses. There are also alternate clauses so that you may swap to and from the template to ensure that the agreement reflects the TRUE wishes of the partners. Which ever way you decide remember it is important to protect your assets and reduce tax so don’t skimp on the process. It is too important. The notes are provided so that you and your partner can modify our template and ensure the detail for the document that will govern your business relationship. Although we have covered all the necessary clauses plus some, if your partnership has issues which are peculiar to your partnership alone you may want to create other clauses for them- refer to the workbook – otherwise just fill in the details, sign and you are on your way. If your situation or issue is really convoluted or if there is dissension or concern with any clause we encourage you to seek legal help. Work out how you want the basics sorted as per this agreement and add the new clause. Just remember in the process don’t miss any of the points in our template – they are there to protect you.
- Template is included so all you have to do is fill in your information and print. How easy can that be!
- Template is in Word 2003 No having to deal with pdf documents and having to retype it. Your agreement is ready to be filled in. Even if you have an OLD computer you will be able to open Word 2003.
- All the Standard Clauses such as INVESTMENT by each partner, percentage of ownership ,MANAGEMENT ROLES, EXIT clauses etc PLUS New Clause relating to INTELLECTUAL PROPERTY and ownership of SOCIAL MEDIA ID’s – missing from many of our competitors’ documents .
- Easy to understand language. The explanatory notes and partnership agreement sample are in easy to understand language.
- Suitable for All States of Australia, New Zealand and Pacific Islands . The partnership agreement has standard clauses found in agreements in all countries however some countries may have extra clauses to cover points related to liability and agency which are covered by common law in Australia.
- Multi-use. Can be used for 2-4 person partnership or agreement between directors in Pty Ltd Company. (Supports and works with the common law replaceable rules for company structure.)
- Money-Back Guarantee. If you find an issue that is relevant to most businesses that is not covered in our agreement we will refund your total payment
- Bonus. Business Start-up Checklist and instructions. We are assuming that as you are setting up a partnership that you could also be starting a business so we have included the Start-up Checklist to make sure that you get things right at the start.
- Dissolution of Partnership. The exit Clauses in this agreement will cover you when you wish to end the partnership. HELP!! There is also a guide in the explanatory notes to guide you if you wish to exit a partnership and haven’t got a written agreement.
To Finalise your Agreement when you have a finished your written agreement, each partner will need an original signed copy of your agreement. Anyone can witness your signature – in fact you can witness each others. Setting up your agreement this way is totally effective as all partners have to be fully involved in the decision making process and then as a consequence they then commit to the partnership principles.
Finally Remember you are going into business and can’t expect everything to be handed to you on a platter. Taking short cuts at the beginning could come back and hit you in the face later. If you are in a partnership business – even if that partner is your spouse, the ATO will require you to have a partnership agreement.
Don’t waste any more time – BUY NOW and then get on with the REAL business activities.