50 50 Partnership Agreement Template for England and Wales

A 50/50 Partnership Agreement is a legally binding document governed by English and Welsh law that establishes an equal partnership between two parties. The agreement details the equal division of profits, losses, responsibilities, and decision-making powers between the partners. It is structured under the Partnership Act 1890 and includes provisions for capital contributions, business operations, dispute resolution, and partnership dissolution. This document provides a comprehensive framework for managing the partnership relationship while ensuring both partners have equal rights and obligations.

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What is a 50 50 Partnership Agreement?

The 50/50 Partnership Agreement is essential when two parties wish to establish an equal business partnership under English and Welsh law. This document is particularly useful for new business ventures or when formalizing existing informal partnerships. It provides detailed provisions for equal profit sharing, joint decision-making, and mutual responsibilities. The agreement is drafted in compliance with the Partnership Act 1890 and related legislation, offering protection to both partners while establishing clear operational guidelines. The document includes crucial elements such as capital contributions, management rights, dispute resolution mechanisms, and exit strategies, making it a fundamental tool for any equal partnership arrangement.

What sections should be included in a 50 50 Partnership Agreement?

1. Parties: Identification and details of the partners

2. Background: Context and purpose of the partnership

3. Definitions: Key terms used throughout the agreement

4. Partnership Business: Nature and scope of the partnership business

5. Capital Contributions: Initial and ongoing capital requirements

6. Profit and Loss Sharing: 50/50 split arrangements and distribution mechanics

7. Management Rights: Decision-making processes and authority levels

8. Partner Duties: Obligations and responsibilities of partners

9. Term and Termination: Duration and dissolution provisions

What sections are optional to include in a 50 50 Partnership Agreement?

1. Intellectual Property: IP ownership and usage rights - include when IP is significant to the business

2. Non-Compete: Restrictions on competitive activities - include when protecting business interests is crucial

3. Insurance: Required insurance coverage - include when specific risks need coverage

4. International Operations: Cross-border business provisions - include for international partnerships

What schedules should be included in a 50 50 Partnership Agreement?

1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments

2. Schedule 2: Business Plan: Initial business strategy and projections

3. Schedule 3: Partner Contact Details: Communication and notice information

4. Schedule 4: Asset Register: List of partnership assets and ownership details

5. Schedule 5: Banking Arrangements: Bank account and financial management details

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

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Download a Standard 50 50 Partnership Agreement

Review your own 50 50 Partnership Agreement

What is a 50 50 Partnership Agreement?

What sections should be included in a 50 50 Partnership Agreement?

What sections are optional to include in a 50 50 Partnership Agreement?

What schedules should be included in a 50 50 Partnership Agreement?

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Alex Denne

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