The Three Way Partnership Agreement is a essential legal instrument used when three parties wish to formally combine their resources, expertise, or business interests under Australian law. This document is particularly valuable for complex business arrangements where multiple stakeholders bring different strengths to the partnership, such as when combining technical expertise with financial investment and market access. The agreement should comply with relevant Australian state/territory Partnership Acts and federal legislation, including tax and business laws. It typically includes detailed provisions for capital contributions, profit sharing, management rights, decision-making processes, dispute resolution, and exit mechanisms. This type of agreement is commonly used in various business contexts, from professional services to property development, and can involve both individual and corporate partners.

1. Parties: Identifies and provides full details of all three partners entering into the agreement

2. Background: Sets out the context and purpose of the partnership, including the business objectives and reasons for formation

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles

4. Partnership Formation and Term: Establishes the partnership's commencement date, term, and conditions for continuation

5. Partnership Name and Business: Specifies the partnership name and describes the nature of the partnership business

6. Capital Contributions: Details the initial and any ongoing capital contributions required from each partner

7. Ownership and Profit/Loss Sharing: Specifies the ownership percentages and how profits and losses will be distributed among partners

8. Management and Decision Making: Outlines management structure, voting rights, and decision-making processes

9. Partners' Duties and Obligations: Details the responsibilities, commitments, and obligations of each partner

10. Financial Management: Covers banking, accounting practices, financial records, and reporting requirements

11. Meetings and Resolutions: Establishes procedures for partner meetings and passing resolutions

12. Restrictions on Partners: Sets out non-compete, confidentiality, and other restrictive covenants

13. Transfer of Partnership Interests: Procedures and restrictions for transferring partnership interests

14. Withdrawal and Retirement: Process and terms for voluntary exit from the partnership

15. Termination: Grounds and procedures for terminating the partnership

16. Dispute Resolution: Procedures for resolving disputes between partners

17. General Provisions: Standard boilerplate clauses including notices, governing law, and amendments