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1. Parties: Identifies all partners entering into the agreement with their full legal names and addresses
2. Background: Outlines the context and purpose of forming the partnership
3. Definitions: Defines key terms used throughout the agreement
4. Partnership Formation: Establishes the creation of the partnership, its name, and commencement date
5. Nature of Business: Describes the business activities the partnership will undertake
6. Capital Contributions: Details the initial contributions made by each partner
7. Profit and Loss Sharing: Specifies how profits and losses will be distributed among partners
8. Management and Decision Making: Outlines how the partnership will be managed and how decisions will be made
9. Banking and Financial Records: Establishes requirements for partnership banking arrangements and financial record-keeping
10. Partner Duties and Obligations: Sets out the responsibilities and obligations of all partners
11. Partnership Property: Defines what constitutes partnership property and how it should be handled
12. Duration and Termination: Specifies the partnership term and conditions for termination
13. Dispute Resolution: Outlines the process for resolving disputes between partners
14. Governing Law: Specifies that the agreement is governed by Australian law
1. Non-Competition: Restricts partners from competing with the partnership business - include when partners have other business interests
2. Intellectual Property: Addresses ownership and use of IP - include when the business involves creative works, innovations, or branded assets
3. Insurance: Specifies required insurance coverage - include for high-risk businesses or when significant assets are involved
4. New Partners: Procedure for admitting new partners - include when future expansion is anticipated
5. Death or Incapacity: Procedures following death or incapacity of a partner - include for long-term partnerships or when partners have significant personal assets
6. Good Will: Addresses treatment of partnership goodwill - include when the business has significant brand value or customer relationships
1. Schedule 1 - Capital Contributions: Detailed list of initial capital contributions from each partner
2. Schedule 2 - Profit and Loss Sharing Ratios: Specific percentages or formulas for profit and loss distribution
3. Schedule 3 - Partnership Assets: Inventory of assets owned by the partnership at commencement
4. Schedule 4 - Partner Roles and Responsibilities: Detailed description of each partner's specific roles and duties
5. Appendix A - Business Plan: Initial business plan and objectives of the partnership
6. Appendix B - Accounting Procedures: Detailed procedures for maintaining partnership financial records
Business
Business Day
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Financial Year
Insolvency Event
Intellectual Property
Management Committee
Net Profit
Net Loss
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Partners
Place of Business
Profits and Losses
Related Party
Resolution
Special Resolution
Term
Territory
Working Capital
Partnership Formation
Term
Capital Contributions
Profit and Loss Distribution
Management Rights
Decision Making
Partner Obligations
Banking Arrangements
Financial Records
Confidentiality
Non-Competition
Intellectual Property
Assignment and Transfer
Admission of New Partners
Retirement of Partners
Death or Incapacity
Termination
Dissolution
Dispute Resolution
Indemnification
Insurance
Notices
Governing Law
Force Majeure
Amendment
Severability
Entire Agreement
Professional Services
Retail
Hospitality
Construction
Technology
Healthcare
Consulting
Real Estate
Manufacturing
Agriculture
Creative Industries
Financial Services
Legal
Finance
Executive Leadership
Operations
Compliance
Corporate Governance
Business Development
Administration
Risk Management
Strategy
Business Owner
Managing Partner
General Partner
Company Director
Business Development Manager
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Business Lawyer
Accountant
Partnership Manager
Operations Manager
Small Business Advisor
Corporate Secretary
Compliance Officer
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