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1. Parties: Identifies the partners entering into the agreement with their full legal names and addresses
2. Background: Explains the context and purpose of the partnership, including the business objectives
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Partnership Formation: Details of partnership establishment, commencement date, and business name
5. Capital Contributions: Specifies initial and ongoing capital contributions from each partner
6. Profit and Loss Sharing: Details the 50-50 split of profits and losses, including distribution timing
7. Management and Decision Making: Outlines day-to-day management responsibilities and decision-making processes
8. Partners' Duties and Obligations: Defines core responsibilities, duties of good faith, and conduct expectations
9. Banking and Financial Records: Specifies banking arrangements and requirements for financial record-keeping
10. Partnership Property: Defines ownership and use of partnership assets and intellectual property
11. Term and Termination: Duration of partnership and circumstances for termination
12. Dispute Resolution: Process for resolving disagreements between partners
13. General Provisions: Standard legal clauses including governing law, notices, and amendments
1. Non-Competition: Restricts partners from competing with the partnership - relevant for specialized or competitive industries
2. Intellectual Property Rights: Detailed IP provisions - important for knowledge-based or creative businesses
3. Insurance: Specific insurance requirements - relevant for high-risk businesses or regulatory requirements
4. Employment of Partners: Terms for partners working in the business - needed if partners take active operational roles
5. Additional Capital: Procedures for raising additional capital - important for growth-focused businesses
6. Third Party Dealings: Rules for engaging with external parties - relevant for businesses with significant external relationships
7. Death or Incapacity: Succession planning provisions - important for long-term partnerships or high-value businesses
8. Digital Assets and Social Media: Management of online presence - relevant for businesses with significant digital operations
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions, including valuations
2. Schedule 2: Business Plan: Initial business plan and strategic objectives
3. Schedule 3: Partnership Assets: Comprehensive list of partnership assets and their agreed values
4. Schedule 4: Intellectual Property Register: List of IP owned by or licensed to the partnership
5. Schedule 5: Operating Procedures: Day-to-day operational procedures and policies
6. Schedule 6: Authorized Actions: List of actions requiring unanimous consent vs. individual partner authority
7. Appendix A: Partner Contact Details: Full contact information for all partners and key stakeholders
8. Appendix B: Bank Account Details: Partnership bank account information and signing authorities
Business
Business Day
Business Hours
Business Name
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Dispute
Distribution
Drawing Account
Effective Date
Financial Year
Force Majeure Event
GST
Initial Capital
Insolvency Event
Intellectual Property
Management Committee
Material Decision
Net Profit
Net Loss
Partnership
Partnership Assets
Partnership Bank Account
Partnership Capital
Partnership Interest
Partnership Property
Partners
Profit Share
Quarter
Related Party
Resolution Period
Special Resolution
Term
Territory
Transfer
Unanimous Decision
Working Capital
Duration
Capital Contributions
Equal Profit and Loss Sharing
Management Rights
Decision Making
Partner Duties
Non-Competition
Confidentiality
Intellectual Property
Banking Arrangements
Financial Records
Partnership Property
Partner Meetings
Additional Partners
Transfer Restrictions
Death or Incapacity
Voluntary Withdrawal
Termination
Dissolution
Force Majeure
Dispute Resolution
Governing Law
Insurance
Indemnification
Representations and Warranties
Assignment
Amendments
Notices
Severability
Entire Agreement
Further Assurance
Good Faith
Business Name and Branding
Compliance with Laws
Third Party Rights
Costs and Expenses
Partnership Assets
Working Capital
Distribution of Profits
Privacy and Data Protection
Professional Services
Retail
Hospitality
Technology
Construction
Manufacturing
Creative Industries
Agriculture
Real Estate
Healthcare
Consulting
Education
E-commerce
Food and Beverage
Entertainment
Legal
Finance
Operations
Compliance
Risk Management
Corporate Governance
Business Development
Commercial
Administrative
Executive Leadership
Business Owner
Managing Partner
CEO
CFO
Legal Counsel
Business Development Manager
Operations Manager
Financial Controller
Company Director
Entrepreneur
Professional Practitioner
Commercial Manager
Risk Manager
Compliance Officer
Partnership Manager
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