Disclaimer
The content provided is intended solely as a general example for informational purposes regarding business partnership agreements in the United States. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in corporate or contractual law. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.
Please note: This is a sample Partnership Agreement template for an LLC in the U.S., provided for general illustrative purposes only. Actual terms should be tailored to specific arrangements and legal requirements.
Partnership Agreement for LLC in the United States
Introduction:
This Partnership Agreement (“Agreement”) is entered into between the partners listed herein to govern the operation and management of the LLC, hereafter referred to as “the Company,” formed under the laws of the State of [State], USA.
Parties:
Partner 1: [Full Name]
Address: [Address]
Partner 2: [Full Name]
Address: [Address]
Purpose:
The purpose of this LLC is to engage in [Description of Business Activities], and any other lawful activities as agreed upon by the partners.
Capital Contributions:
The partners shall contribute capital as follows: Partner 1: [Amount or Description], Partner 2: [Amount or Description].
Profit and Loss Distribution:
Profits and losses shall be allocated among the partners in proportion to their respective capital contributions unless otherwise agreed.
Management:
The LLC shall be managed by [Managing Partner(s)] who shall have authority to make decisions in the ordinary course of business.
Dissolution:
The LLC may be dissolved upon mutual agreement of the partners or as otherwise provided by law. Distribution of assets shall be made in accordance with the partners’ capital accounts.
Governing Law:
This Agreement shall be governed by and construed in accordance with the laws of the State of [State], USA.
Additional Provisions:
- Any amendments to this Agreement must be in writing and signed by all partners.
- All disputes arising out of or related to this Agreement shall be resolved under the jurisdiction of the courts in [State].
- Partners shall keep accurate and complete records of all LLC transactions.
[City], ______________________
[Partner 1 Name]
[Partner 2 Name]