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Club Partnership Agreement
"I need a Club Partnership Agreement for a new fitness club venture between three partners, where two will be active managing partners contributing £50,000 each and one will be a silent partner contributing £100,000, with operations planned to start in March 2025."
1. Parties: Identification and details of all partners involved
2. Background: Context and purpose of the partnership
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form and nature of the partnership
5. Capital Contributions: Details of initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management and Decision Making: Governance structure and voting rights
8. Term and Termination: Duration and conditions for ending the partnership
1. Intellectual Property Rights: Provisions for ownership and use of IP when the club owns or uses significant brands, logos, or other intellectual property
2. Insurance Requirements: Specific insurance obligations for high-risk activities or valuable assets
3. Competition Restrictions: Non-compete and confidentiality provisions when protecting business interests is crucial
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial contribution
2. Schedule 2: Business Plan: Initial business plan and financial projections
3. Schedule 3: Club Rules: Operational rules and procedures
4. Schedule 4: Asset Register: List of partnership assets and their values
5. Schedule 5: Management Structure: Detailed governance and reporting structure
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