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This document serves as a vital legal framework for establishing equal partnerships under Irish law. The 50-50 Partnership Agreement is specifically designed for situations where two parties wish to form a business partnership with equal sharing of ownership, control, profits, and responsibilities. It's particularly suitable for professional services, small businesses, or joint ventures where partners want to ensure equal participation and decision-making rights. The agreement incorporates essential elements required by Irish partnership law, including the Partnership Act 1890, while addressing contemporary business needs such as digital assets, intellectual property rights, and data protection. It provides comprehensive coverage of partnership formation, operation, dispute resolution, and dissolution procedures, making it suitable for both new partnerships and formalizing existing business relationships.

1. Parties: Identifies and provides full details of the two partners entering into the 50-50 partnership

2. Background: Sets out the context and purpose of forming the partnership

3. Definitions: Defines key terms used throughout the agreement

4. Partnership Formation: Establishes the creation of the partnership, its name, and commencement date

5. Nature of Business: Defines the scope and type of business activities the partnership will undertake

6. Capital Contributions: Details the initial and any agreed future capital contributions from each partner

7. Profit and Loss Sharing: Specifies the 50-50 split of profits and losses and distribution mechanisms

8. Management and Decision Making: Outlines how the partnership will be managed and how decisions will be made

9. Partners' Duties and Obligations: Sets out the responsibilities and commitments of each partner

10. Banking and Financial Matters: Establishes banking arrangements and financial management procedures

11. Accounting and Records: Details requirements for maintaining partnership accounts and records

12. Admission of New Partners: Procedures for admitting new partners and impact on partnership structure

13. Death or Incapacity: Procedures to follow in case of death or incapacity of a partner

14. Termination and Dissolution: Circumstances and procedures for ending the partnership

15. Dispute Resolution: Mechanisms for resolving disagreements between partners

16. Governing Law: Confirms Irish law as governing law and jurisdiction