Partnerships and Joint Ventures

Transfer your interest in an Alberta limited partnership to another party with this Transfer of Limited Partnership Units.

• This form allows the withdrawing partner to transfer all of his or her interest to either a remaining partner or a new incoming partner.
• This form is in MS Word format and is easy to download and use.
• Intended for use only in the Province of Alberta, Canada.

Transfer ownership of units in a limited partnership in Canada with this template Bill of Sale for Limited Partnership Units.

• Under the Bill of Sale, the seller transfers the units to the buyer free and clear of any encumbrances, liens or rights of third parties to acquire an ownership interest.
• The buyer and seller agree to exchange mutual releases with respect to the purchase and sale of the units.
• The seller also releases the Limited Partnership from any claims.
• Available as a fully editable MS Word download.
• Intended to be used only in Canada.

Set up a business joint venture in British Columbia with this template Joint Venture Agreement.

• One of the joint venturers will be responsible for management of the joint venture, and will be paid a management fee for providing such services.
• No joint venturer may transfer its interest without the consent of the other joint venturers, except in the death of a joint venturer, when his/her interest will automatically pass to their spouse or children.
• Each joint venturer has a right of first refusal and piggyback rights on the interest of the other parties, in the event of a sale or transfer.
• Any joint venturer may exercise a shot-gun (buy-sell) provision with respect to the interest of another joint venturer.

Establish a strategic alliance between two companies involved in similar or related businesses with this template Business Alliance Agreement for companies operating in Canada.

• Both parties agree to cooperate in identifying prospective customers, representing products and providing technical support to customers.
• Each party will be treated as the general contractor for projects in which it proposes the goods and services of the other party.
• Either party may terminate the agreement on proper notice to the other party.
• Each party shall be liable only to the extent of its respective interest.
• Each party shall treat all information received from the other party as confidential.
• The parties agree to arbitration in the event of a dispute.
• This is a downloadable legal contract governed by Canadian laws.

Collaborate with another business to develop new markets to your mutual benefit under this Business Alliance Agreement for U.S. companies.

• The parties agree to cooperate in identifying prospective customers, representing products and providing technical support to customers.
• Each party will be treated as the general contractor for projects in which it proposes the goods and services of the other party.
• Each party shall be liable only to the extent of its respective interest.
• Each party shall treat all information received from the other party as confidential.
• The template can be used anywhere in the United States.
• Available in MS Word format.
• Expand your markets, grow your business and capitalize on opportunities through strategic relationships.

Prepare a Collateral Trust Agreement Between Partners with this downloadable template for a two-person partnership.

• One partner appoints a trustee to hold a life insurance policy or policies on the life of the other partner in trust on the partner's behalf.
• Upon the death of the insured partner, the partner agrees to purchase the insured partner's interest, using the proceeds from the insurance policy / policies.
• The trustee will hold the insurance policy / policies in trust, but the partner will receive all dividends.
• The partner will pay the trustee a yearly fee for acting as trustee.
• This legal form template is fully editable and can be easily customized to meet your needs.
• This is a generic form which does not contain references to the laws of any particular country and can be used in many countries and jurisdictions.

Set up a joint venture to rent equipment with this downloadable Equipment Rental Joint Venture Agreement for Canada.

• The joint venture will purchase equipment which will be rented to customers.
• One of the parties will act as the manager of the joint venture's business.
• The managing co-venturer is accountable to the other co-venturers for the management of the joint venture.
• The remaining co-venturers have a right of first refusal to purchase the interest of a departing co-venturer.
• Provisions for remedies upon the default of any co-venturer.
• Provisions for winding up the joint venture.
• This legal agreement template is available as a fully editable MS Word document.
• Intended for use only in Canada.

Set up a business partnership between two or more partners with this General Partnership Agreement template for Australia.

• The term of the partnership is open ended, and will continue until all the partners agree to dissolve the partnership.
• The agreement provides for additional capital contributions to be injected into the partnership by all partners when a cash call is made.
• The partners cannot make voluntary capital contributions or make withdrawals of capital without the consent of all partners.
• No partner may loan money to the partnership without the approval of the other partners.
• Calculation and allocation of profits and losses will not take into account any tax-exempt income.
• Method for appointing a managing partner to run the day to day operations.
• Partners may engage in outside business activities so long as they do not compete with the partnership's business.
• The partnership will not dissolve upon the death, disability or withdrawal of a partner.
• Right of first refusal by other partners to purchase the interest of a withdrawing partner.
• Available in MS Word format and fully editable to fit your circumstances.
• Intended to be used only within Australia.

Establish a general partnership with this comprehensive document template for USA partnerships.

• Voluntary capital contributions or withdrawals require the consent of all partners.
• Profits and losses will be divided equally among the partners.
• Any new partner admitted into the partnership must match the initial capital contributions of the existing partners.
• The partnership dissolves upon the death, disability or voluntary withdrawal of a partner, or if a partner fails to make a capital contribution when required.
• Withdrawing partners must agree not to compete with the partnership.
• Available in MS Word format.
• Governed by US laws and intended to be used only in the United States.

Are you selling your interest in a business partnership, or buying out a partner's interest? This Guide to Partnership Buyouts can assist you in structuring the transaction.

• why business partners fight,
• the role partnership agreements play,
• how to avoid disputes when the partnership terminates or a partner leaves,
• a comprehensive checklist for buying out a partner.

If you're a partner, you need to get a copy of the Guide to Partnership Buyouts.