Joint Operating Agreement Template: Shared Business Terms

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Joint Operating Agreement Template

1. Date and Parties

This Joint Operating Agreement (“Agreement”) is made on [Date] by and between:

Party 1:

[Full Legal Name or Company Name]

[Address]

Party 2:

[Full Legal Name or Company Name]

[Address]

Additional Party, if any:

[Full Legal Name or Company Name]

2. Purpose

The parties agree to jointly operate and manage the following business activity, project, or venture:

[Describe Business Activity or Project]

3. Scope of Operations

This Agreement applies to the following operations and responsibilities:

[Describe Scope of Joint Operations]

4. Contributions and Costs

Each party shall contribute the following funds, property, services, or other support:

Party 1 Contribution: [Description]

Party 2 Contribution: [Description]

Shared costs shall be allocated as follows:

[Cost Allocation Terms]

5. Management and Decision-Making

The parties agree that management authority shall be handled as follows:

[Describe Management Structure]

Decisions requiring joint approval include:

[Major Decisions Requiring Approval]

6. Duties of the Parties

Each party agrees to perform its assigned duties in good faith and in accordance with this Agreement.

Specific duties include:

[Describe Duties of Each Party]

7. Records and Reporting

Financial, operational, and other business records shall be maintained as follows:

[Recordkeeping and Reporting Terms]

8. Term and Termination

This Agreement begins on [Start Date] and continues until [End Date or Event], unless ended earlier.

Either party may terminate this Agreement by giving:

[Termination Notice Terms]

9. Dispute Resolution

Any dispute arising under this Agreement shall be handled as follows:

[Negotiation, Mediation, Arbitration, Court Process]

10. Governing Law

This Agreement shall be governed by the laws of:

[State/Country]

11. Signatures

Party 1

Signature: ________________________

Name: [Full Legal Name]

Date: [Date]

Party 2

Additional Party, if any

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Joint Operating Agreement Template: Shared Business Terms

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Joint Operating Agreement Template — quick answers

Reviewed July 2026 Free download, PDF & DOCX

What is a joint operating agreement?

A joint operating agreement is a written contract between two or more parties that agree to manage or operate a business activity together under defined terms. It usually explains responsibilities, cost sharing, decision-making, and how the arrangement will be handled.

Why do you need a joint operating agreement?

You need this agreement to clearly document how the parties will work together and avoid disputes about control, expenses, and duties. It helps create a practical structure for daily operations, approvals, and financial obligations.

When should you use a joint operating agreement?

Use this agreement when two or more parties plan to operate a project, property, venture, or business arrangement together. It is useful when the parties need clear written rules for management, funding, reporting, and shared responsibilities.

How to write a joint operating agreement?

Identify the parties and the business activity, then describe each party’s role, contributions, cost obligations, and management authority. You should also include dispute terms, duration, termination rules, and signatures.

Can AI Lawyer help if owners, managers, and finance teams all need to review?

AI Lawyer can help by organizing the agreement into clear sections so each reviewer can find the key details quickly. It can also add reference notes and placeholders to make updates easier to track. A consistent structure helps reduce repeated edits and lowers the chance of missing cost terms, approval rights, or reporting duties before signing.

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