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An Addendum To Partnership Agreement is a crucial document used when partners need to modify their existing partnership arrangement in Malaysia without creating an entirely new agreement. This document type is particularly relevant when partners need to formalize changes such as admitting new partners, adjusting profit-sharing ratios, modifying capital contributions, or updating management responsibilities. The addendum must comply with Malaysian partnership law, particularly the Partnership Act 1961, and should be properly executed and stamped to ensure legal validity. It's commonly used across various business sectors and is especially important for professional services firms, trading companies, and other businesses operating as partnerships in Malaysia. The document helps maintain business continuity while implementing necessary changes to the partnership structure or operations.
