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1. Parties: Identification and details of the partners entering into the agreement
2. Background: Context of the partnership formation and brief description of the business purpose
3. Definitions: Key terms used throughout the agreement and their meanings
4. Partnership Structure: Details of the 60/40 ownership split and partnership type
5. Capital Contributions: Initial and ongoing capital contributions from each partner
6. Profit and Loss Distribution: 60/40 profit-sharing arrangement and loss allocation
7. Management and Decision Making: Partnership management structure and voting rights
8. Partners' Duties and Obligations: Responsibilities and commitments of each partner
9. Banking and Financial Records: Financial management procedures and record-keeping requirements
10. Addition and Withdrawal of Partners: Processes for changes in partnership composition
11. Dispute Resolution: Procedures for resolving disagreements between partners
12. Term and Termination: Duration of partnership and conditions for termination
13. General Provisions: Standard legal clauses including governing law, notices, and amendments
1. Non-Competition and Confidentiality: Restrictions on competing activities and protection of confidential information
2. Intellectual Property Rights: Ownership and management of IP created during the partnership
3. Insurance Requirements: Specific insurance policies partners must maintain
4. Employee Management: Procedures for hiring, managing, and terminating employees
5. Death or Incapacity: Procedures in case of death or incapacity of a partner
6. Business Premises: Arrangements regarding business location and property
7. External Investment: Rules for seeking and accepting external investment
8. International Operations: Provisions for international business activities
1. Schedule 1: Capital Contributions: Detailed breakdown of initial and agreed future capital contributions
2. Schedule 2: Business Plan: Initial business plan and strategic objectives
3. Schedule 3: Partner Contact Details: Complete contact information for all partners
4. Schedule 4: Asset Register: List of partnership assets and their agreed values
5. Schedule 5: Designated Roles: Specific roles and responsibilities of each partner
6. Appendix A: Partnership Policies: Key operational policies and procedures
7. Appendix B: Required Insurances: List of required insurance policies and coverage levels
8. Appendix C: Financial Procedures: Detailed financial management and reporting procedures
Majority Partner
Minority Partner
Business
Business Day
Business Hours
Business Name
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Dispute
Distribution
Effective Date
Financial Year
GST
Initial Capital
Intellectual Property
Management Committee
Material Breach
Net Profit
Operating Expenses
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Profit Share Ratio
Quarter
Related Party
Reserved Matters
Special Resolution
Territory
Transfer
Valuation Date
Working Capital
Exit Event
Force Majeure Event
Insolvency Event
Partnership Term
Capital Contributions
Profit and Loss Distribution
Management Rights
Voting Rights
Decision Making
Financial Management
Banking Arrangements
Accounting and Records
Partner Duties
Non-Competition
Confidentiality
Intellectual Property
Partnership Property
Transfer Restrictions
Addition of Partners
Withdrawal of Partners
Death or Incapacity
Buy-Out Rights
Termination
Dissolution
Dispute Resolution
Force Majeure
Notices
Assignment
Amendment
Severability
Governing Law
Entire Agreement
GST and Taxation
Insurance
Indemnification
Reserved Matters
Further Assurance
Good Faith
Compliance with Laws
Partnership Meetings
Business Plan
External Relations
Representations and Warranties
Professional Services
Retail
Manufacturing
Technology
Hospitality
Construction
Real Estate
Healthcare
Creative Industries
Consulting
Agriculture
Education
Financial Services
Legal
Finance
Executive Leadership
Operations
Commercial
Risk and Compliance
Business Development
Administration
Corporate Governance
Business Owner
Managing Director
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Commercial Director
Business Development Manager
Partnership Manager
Operations Director
Company Secretary
Financial Controller
Risk Manager
Compliance Officer
Business Advisor
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