Singapore
Legal Templates
Partnership Articles Of Association

Partnership Articles Of Association Template for Singapore

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Key Requirements PROMPT example:

Partnership Articles Of Association

"I need Partnership Articles of Association for a new technology consulting firm in Singapore with three equal partners, where we want to include specific provisions for intellectual property rights and international client work."

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What is a Partnership Articles Of Association?

Partnership Articles of Association are essential when establishing a partnership business in Singapore. This document serves as the constitutional framework for the partnership, defining how the business will operate and how partners will interact. It is particularly crucial for businesses seeking to formalize their structure while maintaining flexibility compared to a corporate entity. The articles must align with Singapore's Partnership Act and include detailed provisions about capital contributions, profit sharing, management rights, and dispute resolution mechanisms. This document is fundamental for protecting partners' interests and ensuring smooth business operations.

What sections should be included in a Partnership Articles Of Association?

1. Parties: Details of all partners entering into the partnership

2. Background: Context and purpose of forming the partnership

3. Definitions: Key terms used throughout the articles

4. Partnership Name and Business: Official name and nature of business

5. Capital Contributions: Initial and ongoing capital requirements

6. Profit and Loss Sharing: Distribution of profits and allocation of losses

7. Management Structure: Governance and decision-making processes

8. Partner Rights and Obligations: Duties and responsibilities of partners

9. Duration and Termination: Term of partnership and dissolution procedures

What sections are optional to include in a Partnership Articles Of Association?

1. Non-Competition: Restrictions on competing activities during and after partnership

2. Intellectual Property Rights: Ownership and use of IP in the partnership

3. International Operations: Rules and procedures for overseas business operations

What schedules should be included in a Partnership Articles Of Association?

1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial contribution

2. Schedule 2: Profit Sharing Ratios: Specific percentages for profit distribution

3. Schedule 3: Management Responsibilities: Detailed roles and responsibilities of managing partners

4. Appendix A: Business Plan: Initial business plan and strategy

5. Appendix B: Partner Details: Complete information about each partner including contact details

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Clauses
Formation of Partnership
Duration of Partnership
Capital Contributions
Profit and Loss Sharing
Management Rights
Partner Duties and Obligations
Decision Making
Banking and Financial Matters
Accounting and Records
Partner Meetings
Admission of New Partners
Retirement of Partners
Death of Partners
Transfer of Partnership Interest
Non-Competition
Confidentiality
Intellectual Property
Dispute Resolution
Termination
Dissolution
Partnership Property
Indemnification
Insurance
Governing Law
Notices
Amendment Procedures
Force Majeure
Severability
Entire Agreement
Good Faith
Industries

Partnership Act (Chapter 391): Primary legislation governing partnerships in Singapore, defining basic partnership structures, rights, and obligations

Business Names Registration Act 2014: Legislation governing the registration and regulation of business names in Singapore

Limited Partnerships Act: Specific legislation for limited partnerships, defining the structure and regulations for limited liability partnerships

Business Registration Act (Chapter 32): Law governing the registration and administration of businesses in Singapore

Companies Act (Chapter 50): While primarily for companies, contains relevant provisions that may affect partnerships

Income Tax Act (Chapter 134): Legislation governing taxation matters for business entities including partnerships

Goods and Services Tax Act: Legislation governing GST obligations and compliance for business entities

ACRA Regulations: Regulatory requirements set by the Accounting and Corporate Regulatory Authority for business entities

Registration Requirements: Specific requirements for registering a partnership in Singapore including documentation and fees

Partners' Rights and Obligations: Legal framework defining the rights, duties, and obligations of partners in the partnership

Capital Contribution Rules: Regulations governing how partners contribute capital to the partnership and related obligations

Profit and Loss Sharing: Legal requirements and considerations for distributing profits and losses among partners

Management Structure: Legal framework for establishing and operating the partnership's management hierarchy

Dissolution Procedures: Legal requirements and processes for dissolving or terminating a partnership

Dispute Resolution Mechanisms: Legal framework for handling disputes between partners and with third parties

Partner Entry/Exit Provisions: Legal requirements for adding new partners or handling partner withdrawals

Local Business Regulations: Compliance requirements with Singapore's local business laws and regulations

Tax Obligations: Specific tax compliance requirements and obligations for partnerships in Singapore

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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