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1. Parties: Identification of the partnership and incoming partner
2. Background: Context of the partnership and admission of new partner
3. Definitions: Key terms used throughout the agreement
4. Capital Contribution: Details of required capital investment and payment terms
5. Profit Sharing: Formula and timing for profit distribution, including drawings and allocation of losses
6. Management Rights: Partner's voting rights, management participation, and decision-making authority
7. Duties and Obligations: Partner's responsibilities, commitments, and expected contribution to the partnership
8. Restrictive Covenants: Non-compete, non-solicitation, and confidentiality obligations
9. Exit Provisions: Terms for retirement, voluntary withdrawal, expulsion, and death/incapacity
10. Insurance and Indemnity: Professional indemnity requirements and mutual indemnification provisions
11. Dispute Resolution: Procedures for resolving partnership disputes and applicable jurisdiction
12. General Provisions: Miscellaneous legal provisions including notices, amendments, and severability
1. Regulatory Compliance: Specific obligations and requirements for regulated industries such as legal or financial services
2. International Operations: Provisions dealing with cross-border activities and international offices
3. Intellectual Property: Ownership, usage rights, and protection of partnership intellectual property
4. Good Faith and Fiduciary Duties: Explicit statement of partnership fiduciary obligations and good faith requirements
5. Anti-Money Laundering: Specific provisions for compliance with AML regulations in regulated sectors
1. Schedule 1 - Capital Account Details: Detailed breakdown of partner's capital contribution and payment schedule
2. Schedule 2 - Profit Sharing Formula: Detailed calculation methods and timing for profit distribution
3. Schedule 3 - Partnership Policies: Key operational policies, governance procedures, and internal regulations
4. Schedule 4 - Insurance Requirements: Specified professional and personal insurance coverage requirements
5. Schedule 5 - Restrictive Covenants: Detailed terms of non-compete, non-solicitation, and confidentiality obligations
6. Schedule 6 - Partner Performance Metrics: Performance evaluation criteria and expectations
Accounts
Act
Additional Capital
Articles of Partnership
Approved Person
Bad Leaver
Board
Business
Capital Account
Capital Contribution
Client Money
Compulsory Retirement
Confidential Information
Current Account
Drawings
Effective Date
Equity Partner
Equity Points
Financial Year
Fixed Share Partner
Garden Leave
Good Leaver
Governing Body
Initial Capital
Intellectual Property Rights
Lock-step
Management Committee
Merit Points
Notice Period
Partnership
Partnership Agreement
Partnership Property
Partnership Share
Practice Area
Professional Indemnity Insurance
Profit Share
Profit Unit
Regulated Activities
Regulatory Body
Regulatory Requirements
Remuneration Pool
Reserved Matters
Restrictive Covenants
Retirement
Senior Partner
Seniority Points
Subsidiary
Territory
Undrawn Profits
Voting Rights
Term and Commencement
Capital Contribution
Profit Sharing
Management Rights
Voting Rights
Partner Duties
Confidentiality
Intellectual Property
Non-Competition
Non-Solicitation
Decision Making
Financial Matters
Partner Meetings
Capital Accounts
Drawing Rights
Leave Entitlements
Insurance
Indemnification
Retirement
Expulsion
Death or Disability
Exit Provisions
Good Leaver/Bad Leaver
Garden Leave
Post-Termination Restrictions
Dispute Resolution
Governing Law
Assignment
Notices
International Operations
Regulatory Compliance
Client Matter Transfer
Cross-Border Activities
Professional Development
Performance Reviews
Sabbatical Leave
Alternative Dispute Resolution
Technology Usage
Data Protection
Environmental Policy
Corporate Social Responsibility
Anti-Money Laundering
Business Continuity
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