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Memorandum Of Agreement For Partnership
"I need a Memorandum of Agreement for Partnership for a three-partner technology consulting firm based in London, with specific provisions for intellectual property sharing and a 40-30-30 profit split arrangement, to be effective from March 2025."
1. Parties: Details of all partners entering into the agreement
2. Background: Context and purpose of the partnership
3. Definitions: Key terms used throughout the agreement
4. Partnership Business: Nature and scope of the partnership business
5. Capital Contributions: Initial and ongoing capital contributions of partners
6. Profit and Loss Sharing: Distribution of profits and losses among partners
7. Management and Decision Making: Partnership governance and decision-making processes
8. Duration and Termination: Term of partnership and conditions for termination
1. Intellectual Property Rights: IP ownership and usage rights - include when partnership involves creation or use of intellectual property
2. Non-Competition: Restrictions on competing activities - include when partners want to prevent competition during/after partnership
3. Insurance: Required insurance coverage - include when specific insurance requirements need to be mandated
4. International Operations: Rules for international business - include when partnership operates across multiple jurisdictions
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments
2. Schedule 2: Profit Sharing Ratios: Detailed allocation of profits and losses
3. Schedule 3: Business Plan: Initial business plan and projections
4. Schedule 4: Partner Details: Detailed information about each partner
5. Appendix A: Partnership Policies: Operating procedures and internal policies
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