Document background
The Family Partnership Agreement is essential for Singapore families looking to formalize their business relationships and protect both family and business interests. This document becomes particularly important when multiple generations are involved in a family business or when family members wish to pool resources for investment purposes. The agreement, governed by Singapore law, typically includes detailed provisions on capital contributions, profit sharing, management responsibilities, succession planning, and dispute resolution mechanisms. It helps prevent future conflicts by clearly establishing rights and obligations while ensuring compliance with Singapore's Partnership Act and related regulations.
