A number of businesses owe their success because of a stable and firm relationship they have established with their business partners. While working alone gives you full control over the business, there are many benefits that Partnerships have to offer. Before a company could move forward with a Partnership Agreement, they are yet to provide a Partnership Policy and Proposal to their proponent and a prospective partner. To know more about this continue reading our article and check out our free partnership policy and proposal samples below:
10+ Partnership Policy and Proposal Samples
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What Is a Partnership Policy and Proposal?
A business partnership is a legal agreement between two or more individuals or companies, to oversee business operations and share its profits and liabilities. Generally, a partnership can be any endeavor undertaken jointly by multiple parties. The parties may be governments, non-profits enterprises, businesses, or private individuals. The goals of a partnership also vary widely, thus a Partnership Policy and Proposals are established. This is a general statement that shows the potential partner of your interest in doing business with them. The objectives are first formulated and then policies are planned to achieve them.
How to Create a Partnership Policy and Proposal?
There are a number of types of partnership such as General Partnership, Limited Partnership, Limited Liability Partnership , Joint Venture among others. An effective partnership proposal and policy must be settled between both parties involved in order to identify which type of partnership they would agree on. This must address a set of common concerns that includes benefits, values alignment and goals of such a partnership, as well as questions of how to structure any future dissolution of the partnership. To get you started here are the general contents of a partnership policy and proposal:
I. Partnership Policy:
- Purpose : Determine what do you intend to accomplish with your proposed business partner. And specify what the partnership policy is designed for.
- Partnership Definition: For the purpose of the document presented define what are the different partnership and possible type of partnership you intend to establish with the other party.
- Benefits: State what are the benefits incurred if a partnership agreement is formed. This maybe the potential customers you may be able to acquire, attaining target revenues, additional business opportunities, cost saving or tax benefits. Whatever is related to the nature of your business pinpoint these in your policy.
II. The Partnership Process
The steps for the creation of a partnership are as follows:
- Develop and agree on partner budget
- Create and agree of a partnership work plan
- Create a public notification process
- Review of the proposal and drafting of the partnership agreement which will be done jointly
III. Evaluation Process
State the mission statement and goals that are to be expected in the collaboration and other issues that needs to be attended to in regards to the nature of the policy.
IV. Proposed Partnership Outline
- Description of the Proposing Organization or Company
- Summary of the Proposal
- Benefits and Advantages
- Other Details such as initial plans for your concept, operations, projected costs and revenues, staffing, and/or any scheduling or maintenance needs and etc.
What Is a Business Proposal?
A Business Proposal is a written document that is being created by a company intended for a prospect buyer or client. It is key part of forming new ventures and partnerships.
What Is a Shareholder Agreement?
A Shareholder Agreement is an arrangement amongst a company’s shareholders which contains how a company is to be operated, the rights and obligations afforded to the shareholders, and the relationship between the company and the shareholders. It is synonymous to a partnership agreement.
What Is a Business Collaboration?
Business Collaboration is the joining of internal and external connections to generate ideas, find solutions, and achieve common goals.
To be able to find a suitable business partner who can mutually share the same goals and interest, it is imperative to present a partnership policy and proposal before committing. This is to avoid future conflict and misinterpretation, to reach a mutual understanding between parties and ensure that nothing would jeopardize the partnership.
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