A strategic partnership agreement is signed between two companies which clearly lays down all the terms and conditions of the partnership so that there is no conflict in the future. Both parties must mention how they will benefit from the agreement and one’s financial commitment to another must be outlined clearly.
Sample Strategic Partnership Agreement
This strategic partnership agreement is made on August 12, 2011 in Seattle between PARTY 1 and PARTY 2.
PARTY 1 DETAILS:
Name: Shelter Technologies
Address: 9839 Luke Drive, Seattle
Phone number: 893459302
PARTY 2 DETAILS:
Name: Reach Marketing
Address: 930 Downtown Seattle
Phone number: 893085090
DURATION OF AGREEMENT: 1 year
TERMS AND CONDITIONS:
As per the agreement, PARTY 1 and PARTY 2 agree to enter a strategic alliance which will be beneficial to both companies.
PARTY 2 shall be responsible for marketing the products of PARTY 1 in the northern states of the country and for that PARTY 2 is granted full right to use all the means necessary to promote the products.
PARTY 1 shall give PARTY 2 the sole and exclusive authority to promote the products and both parties shall share the benefits from this strategic alliance in a ratio of 70:30 respectively.
PARTY 1 shall continue to hold the rights to the products and services.
Each party shall bear their own costs, expenses, risks, and liabilities incurred in the production and promotion of the product.
Any changes to the agreement must be followed by a written agreement which requires the consent of both parties.