A strategic partnership agreement is a valuable tool for businesses looking to collaborate and grow together. A well-written agreement will lay out the terms of the partnership and help avoid confusion and misunderstandings. In this article, we will provide a sample strategic partnership agreement and explain some of the key provisions.
This partnership agreement (the “Agreement”) is entered into on [date] by and between [Company A], a [state] corporation with its principal place of business at [address], and [Company B], a [state] corporation with its principal place of business at [address]. Collectively, the parties are referred to as the “Parties.”
The Parties intend to enter into a strategic partnership to [purpose of partnership]. The Parties acknowledge the strategic and commercial value of such a partnership and intend to collaborate to achieve their mutual goals.
This Agreement shall commence on [date] and shall continue for [term of the partnership]. The Agreement may be extended by the mutual agreement of the Parties, in writing.
Obligations of the Parties
The Parties agree to the following obligations:
[Company A] shall [obligations of Company A].
[Company B] shall [obligations of Company B].
The Parties agree to the following joint obligations:
[obligations that require both companies to work together].
The Parties acknowledge that they own their respective intellectual property and that neither party shall use the other party`s intellectual property without their prior written consent.
The Parties acknowledge that they may exchange confidential information during the term of the Agreement. The Parties agree to keep such information confidential and not to disclose it to any third party.
Either party may terminate this Agreement at any time, with or without cause, upon [notice period] days` written notice to the other party.
This Agreement shall be governed by and construed in accordance with the laws of the State of [state] without giving effect to any choice of law or conflict of law provisions.
This Agreement may be amended by mutual written agreement of the Parties.
This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements between the parties, whether written or oral, relating to the subject matter of this Agreement.
A strategic partnership agreement is an essential component of any business collaboration. The sample agreement provided in this article is a starting point for businesses looking to draft their own agreement. However, it is important to tailor the agreement to the needs of the specific partnership and seek legal advice if necessary. With a well-drafted agreement in place, businesses can work together confidently and collaboratively towards their mutual goals.