The Legal Partnership Agreement is a fundamental document for businesses operating as partnerships in Singapore. It's essential when two or more parties wish to formalize their business relationship under Singapore law, particularly in compliance with the Partnership Act 1890. The agreement covers crucial aspects such as capital contributions, profit-sharing arrangements, management responsibilities, and dissolution procedures. It's particularly important for professional services firms, joint ventures, and family businesses, providing clarity on partners' rights and obligations while addressing specific requirements of Singapore's regulatory framework.
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1. Parties: Identification and details of all partners
2. Background: Context and purpose of the partnership
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Type of partnership and basic structure
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management and Decision Making: Partnership governance and voting rights
8. Partner Duties and Obligations: Responsibilities and commitments of partners
9. Term and Termination: Duration and termination provisions
1. Non-Competition: Restrictions on competing activities when partners may have competing interests
2. Intellectual Property: IP ownership and usage rights when IP is significant to the business
3. Insurance: Required insurance coverage when specific insurance needs exist
4. Dispute Resolution: Process for resolving partner disputes when specific dispute mechanisms are desired
1. Schedule A - Capital Contributions: Detailed breakdown of partner contributions
2. Schedule B - Profit Sharing Ratios: Specific profit and loss allocation formulas
3. Schedule C - Partner Information: Detailed partner information and contact details
4. Schedule D - Business Plan: Initial business plan and objectives
5. Appendix 1 - Partnership Policies: Internal policies and procedures
Relevant legal definitions
Agreement
Accounting Period
Business
Business Day
Business Hours
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Partner
Distribution
Drawing Account
Effective Date
Financial Year
General Partner
Governing Law
Initial Capital Contribution
Intellectual Property Rights
Limited Partner
Managing Partner
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Partner
Percentage Interest
Profit and Loss
Reserved Matters
SGD
Share
Tax
Term
Territory
Transfer
Voting Rights
Winding Up
Accounting Period
Business
Business Day
Business Hours
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Partner
Distribution
Drawing Account
Effective Date
Financial Year
General Partner
Governing Law
Initial Capital Contribution
Intellectual Property Rights
Limited Partner
Managing Partner
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Partner
Percentage Interest
Profit and Loss
Reserved Matters
SGD
Share
Tax
Term
Territory
Transfer
Voting Rights
Winding Up
Clauses
Partnership Formation
Term and Duration
Capital Contributions
Profit and Loss Sharing
Management Rights
Voting Rights
Partner Duties and Obligations
Decision Making
Banking and Financial Matters
Accounting and Records
Distributions
Additional Partners
Transfer of Partnership Interest
Non-Competition
Confidentiality
Intellectual Property
Partner Death or Incapacity
Retirement
Expulsion
Dissolution and Winding Up
Dispute Resolution
Governing Law
Force Majeure
Notices
Assignment
Insurance
Indemnification
Amendment Procedures
Entire Agreement
Severability
Good Faith
Partner Meetings
Business Name and Place of Business
Tax Matters
Partnership Property
Term and Duration
Capital Contributions
Profit and Loss Sharing
Management Rights
Voting Rights
Partner Duties and Obligations
Decision Making
Banking and Financial Matters
Accounting and Records
Distributions
Additional Partners
Transfer of Partnership Interest
Non-Competition
Confidentiality
Intellectual Property
Partner Death or Incapacity
Retirement
Expulsion
Dissolution and Winding Up
Dispute Resolution
Governing Law
Force Majeure
Notices
Assignment
Insurance
Indemnification
Amendment Procedures
Entire Agreement
Severability
Good Faith
Partner Meetings
Business Name and Place of Business
Tax Matters
Partnership Property
Relevant Industries
Relevant Teams
Relevant Roles
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