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Partnership Framework Agreement
"Need a Partnership Framework Agreement for a technology consulting partnership between three firms in London, focusing on AI development projects, with specific provisions for IP sharing and quarterly profit distribution starting from March 2025."
1. Parties: Details of all partnership members and their status
2. Background: Context and purpose of the partnership arrangement
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form and nature of partnership
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution mechanisms and ratios
7. Management and Decision Making: Governance structure and voting rights
8. Duration and Termination: Term of partnership and exit provisions
1. Intellectual Property Rights: IP ownership and licensing arrangements - include when IP is material to partnership activities
2. Non-Compete Provisions: Restrictions on competitive activities - include when partners may have competing interests
3. International Operations: Cross-border considerations - include for partnerships operating in multiple jurisdictions
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments
2. Schedule 2: Business Plan: Initial business strategy and objectives
3. Schedule 3: Partner Information: Detailed information about each partner
4. Schedule 4: Operating Procedures: Day-to-day management protocols
5. Appendix A: Financial Procedures: Accounting policies and financial management
6. Appendix B: Dispute Resolution Procedures: Process for handling disagreements
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