If you are forming a new partnership or trying to attract new investors to an existing company as a silent partner, a silent partnership agreement can help to draw everyone`s interest in a legally binding document. This agreement allows the silent partner to participate in the company`s profits and losses, while it plays a less important role in the day-to-day management of the business. Adding a silent partner can be great for you and your business if the partner is able to offer advice and capital contributions if necessary. Neither party will be held liable for more debts, with the exception of commitments arising from its investment in capital, in accordance with LAW. This ACCORD represents the entire agreement between the PARTIES. No prior agreement can take over from the JOINT PARTNERSHIP AGREEMENT and no subsequent agreement will become binding unless both parties agree in writing. This ACCORD can be terminated with the written agreement of the PARTENAIRES. Each PARTENARIAT is required by this CONTRAT to notify the other PARTNERSHIP in writing that it wishes to terminate the partnership, no less than [NUMBER] days after the proposed termination date. A silent partner is a person whose main contribution to a business is in the form of capital. A silent partner is generally not involved in the day-to-day running of the partnership, hence the term “silent.” Silent partners are generally able to have limited liability and are only exposed to the extent of their investments in the company. Being a quiet partner can be a good option for investors who want to take advantage of the passive income of a growing business, but don`t want to worry about how the business is run. You can create your own custom tacit partnership agreement with Rocket Lawyer.
Select your status and click the Create a Document button to start creating your own document. You are invited to answer some questions about your agreement. Here are a few questions to consider before your paper begins: unresolved disputes arising from JOINT PARTNERSHIP will go to mediation before arbitration.