Strategic Partnership Agreement sample
Strategic Partnership Agreement Establishes terms for strategic business alliances, including goals, contributions, and management structure.
This Strategic Partnership Agreement (the "Agreement") is entered into as of [Date], by and between Techsolutions Innovation INC., a [State] corporation ("Techsolutions"), and GreenTECH Energy Group, a [State] corporation ("GreenTECH") (collectively, the "Parties").
1.1. Collaboration Goals
The purpose of this Agreement is to establish a strategic alliance between the Parties to collaborate on developing and promoting sustainable energy solutions for smart cities. The Parties agree to cooperate in good faith and engage in joint business and technological development efforts that further their mutual goal of bringing innovative, efficient, and sustainable energy solutions to market.
2.1. Techsolutions' Contributions
Techsolutions shall contribute its expertise in technology and software solutions, research and development resources, marketing and sales strategies, and other relevant industry knowledge, information, and assets to the strategic alliance. It shall provide necessary support such as technical know-how, training, and any necessary resources within its domain of expertise, subject to negotiated terms.
2.2. GreenTECH's Contributions
GreenTECH shall contribute its expertise in sustainable energy, research and development resources, an established network in the energy sector, marketing and sales strategies, and other relevant industry knowledge, information, and assets to the strategic alliance. GreenTECH shall provide necessary support such as market insights, technical knowledge, training, and access to its energy sector network, subject to negotiated terms.
2.3. Joint Responsibilities
The Parties shall jointly formulate a comprehensive strategic plan outlining the key objectives, milestones, targeted markets, and overall development strategy for the partnership. The Parties shall share responsibility for achieving the objectives, participating in joint research and development efforts, and allocating and providing required resources.
3.1. Revenue Sharing
The Parties agree to share any revenue generated from the sale, installation, operation, or other exploitation of the sustainable energy solutions resulting from the strategic alliance on an agreed upon percentage basis. Such percentage shall be subject to review and modification by mutual written agreement of the Parties, taking into account updated-defined market opportunities and contribution levels, and will be negotiated in good faith.
4.1. Joint Executive Committee
The Parties shall establish a Joint Executive Committee ("JEC") to make decisions relating to the strategic alliance. The JEC shall consist of representatives from each Party and will convene periodically to review the strategic alliance’s progress, set objectives and guidelines, solve disputes, and facilitate collaboration between the Parties.
4.2. Voting and Procedures
Each Party shall have an equal number of votes on the JEC, and decisions shall be made by consensus or a simple majority vote. Any modifications to the strategic alliance or this Agreement shall be mutually agreed upon in writing by the Parties.
This Agreement shall commence on the Effective Date and remain in full force and effect for a period of [Number] years, unless terminated earlier by either Party in accordance with the provisions herein (the "Term"). The Parties may extend the Term by mutual written agreement.
5.2. Termination for Convenience
Either Party may terminate this Agreement, with or without cause, upon [Number] days' prior written notice to the other Party.
5.3. Termination for Breach
A Party may terminate this Agreement in the event the other Party materially breaches its obligations under this Agreement and does not cure such breach within [Number] days after receiving written notice thereof.
6.1. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the United States and the laws of the State of [State] without regard to its conflict of law principles.
6.2. Dispute Resolution
Any dispute, controversy, or claim arising out of or relating to this Agreement, or the breach, termination, or validity thereof, shall be resolved through good faith negotiations between the Parties. If the Parties are unable to resolve the dispute within [Number] days, the dispute shall be submitted to binding arbitration under the rules of the American Arbitration Association, and judgment on the award rendered by the arbitrator(s) may be entered into any court having jurisdiction thereof.
7.1. Entire Agreement
This Agreement, including its Annexes, constitutes the entire agreement between the Parties concerning the subject matter hereof and supersedes all prior understandings, agreements, negotiations, and representations, whether oral or written. Neither Party has relied upon any representation or promise not contained herein in entering into this Agreement.
7.2. Amendments
This Agreement may be amended or modified only by a written document executed by the duly authorized representatives of both Parties.
No waiver by either Party of any term or condition of this Agreement shall be deemed or construed as a waiver of such term or condition or of any other term or condition or of any subsequent breach thereof.
All notices, requests, consents, or other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered, sent by facsimile or email (with confirmation of transmission), or sent by registered or certified mail, postage prepaid, return receipt requested, addressed as follows:
Techsolutions Innovation INC.
