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Partnership Agreement Between 3 Parties
"I need a Partnership Agreement Between 3 Parties for a new technology consulting business starting in March 2025, where two partners will contribute equal capital and the third partner will contribute expertise and industry connections, with specific provisions for profit sharing and intellectual property rights."
1. Parties: Details of all three partners and their contact information
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 each partner
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management and Decision Making: Partner roles, responsibilities, and voting rights
8. Duration and Termination: Term of partnership and circumstances for termination
1. Non-Competition: Restrictions on competing activities when partners may have competing interests
2. Intellectual Property: Ownership and use of IP rights when IP is material to the business
3. International Operations: Provisions for cross-border activities when operating internationally
4. Insurance: Required insurance coverage for high-risk businesses
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial investment
2. Schedule 2: Business Plan: Initial business plan and financial projections
3. Schedule 3: Partner Details: Detailed information about each partner
4. Schedule 4: Assets Register: List of partnership assets and their ownership
5. Appendix A: Banking Arrangements: Details of partnership bank accounts and signing authorities
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