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A Partnership Agreement spells out the rules and responsibilities when two or more people run a business together in Hong Kong. It covers essential details like how partners will share profits, make decisions, and handle day-to-day operations under the Partnership Ordinance (Cap. 38).

Beyond the basic legal requirements, this agreement helps prevent future disputes by clearly defining each partner's capital contributions, management roles, and exit procedures. It also establishes how to bring in new partners, resolve conflicts, and protect the business if a partner leaves or passes away - making it a crucial foundation for any partnership venture in Hong Kong.

Create a Partnership Agreement before you start doing business together in Hong Kong - ideally during your initial planning discussions. This timing lets you address key issues while everyone is still aligned and enthusiastic about the venture, rather than waiting until problems arise.

The agreement becomes especially important when partners make unequal capital contributions, bring different skills or resources, or plan to divide responsibilities unevenly. It's also crucial if you're entering regulated industries, dealing with valuable intellectual property, or expecting significant growth that might affect the partnership structure later.

• Partnership Contract: Basic agreement outlining core partnership terms and profit sharing structure
• Partnership Contract Agreement: Comprehensive version with detailed operational procedures and management protocols
• Partnership Separation Agreement: Specialized agreement for dissolving partnerships and distributing assets

• Business Partners: Core participants who sign and are bound by the Partnership Agreement, contributing capital, skills, or resources to the venture
• Legal Advisors: Hong Kong solicitors who draft and review agreements to ensure compliance with local partnership laws and protect clients' interests
• Accountants: Help structure profit-sharing arrangements and tax implications within the agreement
• Industry Regulators: May review agreements in regulated sectors like financial services or professional practices
• Banks and Lenders: Often require partnership agreements when extending business loans or credit facilities

• Partner Details: Gather full legal names, business addresses, and contact information for all partners
• Business Basics: Define your partnership's name, business nature, and intended start date
• Capital Contributions: Document each partner's initial investments, assets, or services
• Profit Structure: Decide on profit-sharing ratios and distribution schedules
• Management Roles: Outline decision-making processes and each partner's responsibilities
• Exit Strategy: Plan procedures for partner retirement, death, or voluntary departure
• Document Generation: Use our platform to create a legally-sound agreement that includes all essential elements

• Partnership Details: Full legal names, business name, and principal place of business
• Business Purpose: Clear description of partnership activities and scope
• Capital Structure: Initial contributions, profit-sharing ratios, and loss allocation
• Management Rights: Decision-making processes and voting mechanisms
• Duration Terms: Partnership term and conditions for continuation
• Exit Provisions: Procedures for admission, retirement, or expulsion of partners
• Dispute Resolution: Hong Kong jurisdiction clause and conflict resolution methods
• Dissolution Process: Steps for winding up and asset distribution

A Partnership Agreement often gets confused with a Business Acquisition Agreement in Hong Kong's commercial landscape. While both deal with business relationships, they serve distinctly different purposes and apply in different scenarios.

• Core Purpose: Partnership Agreements establish ongoing business relationships between partners who will jointly run a business, while a Business Acquisition Agreement handles the one-time transfer of business ownership
• Duration: Partnership Agreements govern long-term collaborative relationships, setting rules for continuous operation. Acquisition agreements typically conclude once the business transfer is complete
• Rights and Obligations: Partners share ongoing management rights and profit-sharing responsibilities, whereas acquisition deals focus on purchase terms, warranties, and transfer conditions
• Risk Allocation: Partnership agreements distribute business risks among partners, while acquisition agreements primarily address transaction risks and seller representations