If you`re starting a business and looking for investors to help fund your venture, having a silent partner agreement in place is crucial. This agreement establishes the terms and conditions for investors who want to contribute to your business but don`t want to be actively involved in day-to-day operations.

The good news is that you don`t have to shell out a ton of money to create a solid silent partner agreement. You can find free templates and samples online to help you get started.

One helpful resource is PandaDoc, which offers a free silent partner agreement doc that can be customized to fit your specific needs. This document includes important provisions such as the identity of the investors, the amount of their investment, the percentage of ownership they`ll receive, and how profits and losses will be divided.

Another great option for a free silent partner agreement is Documatica Legal Forms, which provides a template that covers key areas such as the length of the partnership, the responsibilities of the managing partner, and the duties of the silent partner.

While these free templates can be a good starting point, it`s important to keep in mind that every business is unique. You`ll need to carefully review and modify any templates you use to ensure that they accurately reflect your business`s goals and objectives.

Here are some important tips to keep in mind when creating a silent partner agreement:

- Consult with a legal professional. Even if you`re using a free template, it`s always wise to have an attorney review your agreement to make sure it`s legally binding and enforceable.

- Be clear about the responsibilities of everyone involved. Make sure the agreement spells out what each partner is responsible for, whether it`s managing day-to-day operations or providing funding.

- Be specific about profit distribution. The agreement should clearly outline how profits and losses will be divided among partners.

- Include an exit strategy. The agreement should address what happens if one partner wants to leave the partnership, dies, or becomes incapacitated.

In conclusion, a free silent partner agreement doc can be a helpful tool for starting a business and securing funding from investors. However, it`s important to make sure the agreement is tailored to your specific needs and goals, and that you consult with legal professionals to ensure it`s legally sound.