If your agency is owned by more than one individual, you should have a comprehensive partnership agreement that outlines how decisions are made, what decisions require a full partnership vote, and how to handle conflicts, changes, and other potential challenges.
A Limited Liability Company is a common business structure for a PR or marketing agency, so this sample agreement was created in that fashion.
The sample agreement available here is for two partners with a 50-50 equity split. Note that there is a provision included to enable one partner to break ties on certain votes to ensure that the entity doesn’t end up in a stalemate in the event of a future dispute. That same structure may or may not be appropriate in your own situation.
A solid, well-structured operating agreement will make things much easier down the road. As always, be sure to have competent legal counsel assist you in crafting a final version of this document to ensure that it complies with appropriate local laws and regulations.
