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1. Parties: Identification and details of all partners entering into the lifetime partnership
2. Background: Context of the partnership formation and intention for lifetime commitment
3. Definitions: Detailed definitions of terms used throughout the agreement
4. Partnership Formation and Duration: Establishment of the partnership and its perpetual nature
5. Purpose and Scope: Detailed description of partnership business activities and objectives
6. Capital Contributions: Initial and ongoing capital contributions from each partner
7. Profit and Loss Sharing: Distribution of profits and allocation of losses among partners
8. Management and Decision Making: Partnership governance structure and decision-making processes
9. Partners' Rights and Obligations: Detailed responsibilities and rights of each partner
10. Succession Planning: Provisions for continuation of partnership interest upon death or incapacity
11. Transfer Restrictions: Limitations on transfer of partnership interests
12. Dispute Resolution: Procedures for resolving conflicts between partners
13. Force Majeure: Provisions for handling events beyond partners' control
14. Governing Law: Specification of Nigerian law as governing law
15. Severability: Provisions ensuring remainder of agreement stands if part is found invalid
1. Intellectual Property Rights: Required when partnership involves creation or use of intellectual property
2. Non-Competition: Restrictions on partners engaging in competing businesses
3. Confidentiality: Required when partnership involves sensitive information or trade secrets
4. Insurance Requirements: Specific insurance obligations for partnership protection
5. Environmental Compliance: Required for partnerships in industries with environmental impact
6. Technology and Data Protection: Required when partnership involves digital assets or personal data
7. International Operations: Required for partnerships operating across multiple jurisdictions
8. Religious or Cultural Considerations: Specific provisions respecting partners' religious or cultural practices
1. Schedule A - Partner Details: Detailed information about each partner including contact information and representatives
2. Schedule B - Capital Contributions: Detailed breakdown of initial and committed capital contributions
3. Schedule C - Profit Sharing Ratios: Specific percentages and calculations for profit distribution
4. Schedule D - Partnership Assets: Comprehensive list of partnership assets and their valuations
5. Schedule E - Management Structure: Detailed organizational structure and management responsibilities
6. Schedule F - Business Plan: Initial business plan and strategic objectives
7. Appendix 1 - Partner Resolution Forms: Standard forms for partnership resolutions and decisions
8. Appendix 2 - Succession Planning Details: Detailed procedures and requirements for succession events
Applicable Law
Business
Business Day
Business Plan
Capital Account
Capital Contribution
CAMA
Commencement Date
Confidential Information
Default Event
Dispute
Distribution
Effective Date
Encumbrance
Financial Year
Force Majeure Event
Governing Law
Initial Capital
Intellectual Property Rights
Legal Representative
Lifetime Duration
Management Committee
Managing Partner
Material Breach
Net Profit
Nigerian Law
Operating Expenses
Partner
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Perpetual Term
Profit Share
Regulatory Authority
Reserved Matters
Succession Event
Succession Plan
Successor
Tax
Territory
Third Party
Transfer
Valuation
Duration
Partnership Purpose
Capital Contributions
Additional Capital
Partnership Interests
Profit and Loss Allocation
Distributions
Management Rights
Voting Rights
Partner Obligations
Decision Making
Reserved Matters
Business Operations
Banking
Accounting
Financial Records
Tax Matters
Succession Planning
Transfer Restrictions
Right of First Refusal
Permitted Transfers
Death of Partner
Incapacity
Next Generation Integration
Non-Competition
Confidentiality
Intellectual Property
Partnership Property
Partner Withdrawal
Removal of Partner
Force Majeure
Dispute Resolution
Mediation
Arbitration
Governing Law
Jurisdiction
Amendments
Notices
Severability
Entire Agreement
Further Assurance
Costs
Assignment
Third Party Rights
Force Majeure
Business Continuity
Environmental Compliance
Insurance
Indemnification
Representations and Warranties
Professional Services
Family Business
Real Estate
Agriculture
Trading and Commerce
Manufacturing
Consulting
Healthcare
Traditional Crafts and Arts
Education
Construction
Retail
Financial Services
Hospitality
Legal
Corporate Affairs
Business Development
Executive Leadership
Finance
Compliance
Risk Management
Operations
Family Office
Strategic Planning
Partnership Management
Succession Planning
Business Owner
Managing Partner
Senior Partner
Family Business Manager
Legal Counsel
Corporate Lawyer
Business Development Director
Chief Executive Officer
Chief Operating Officer
Succession Planning Manager
Partnership Manager
Business Advisor
Chief Financial Officer
Compliance Officer
Company Secretary
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