The Informal Partnership Agreement is essential for parties looking to establish a business relationship in Singapore without incorporating a formal company. This document, governed by Singapore's Partnership Act and related legislation, provides a framework for partners to define their business relationship, including capital contributions, profit sharing, management rights, and operational procedures. It's particularly suitable for small businesses, professionals, and entrepreneurs who want a flexible structure with clear guidelines. The agreement helps partners understand their rights and obligations while maintaining compliance with Singapore law.
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1. Parties: Identification and details of all partners
2. Background: Context and purpose of the partnership
3. Definitions: Key terms used in the agreement
4. Partnership Business: Nature and scope of the business
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management Rights: Decision-making processes and authority
8. Term and Termination: Duration and conditions for ending partnership
1. Non-Competition: Restrictions on competing activities - used when partners may have competing interests
2. Intellectual Property: Ownership and use of IP - included when IP is significant to the business
3. Insurance: Required insurance coverage - recommended for high-risk businesses
4. Dispute Resolution: Process for resolving disagreements - important for complex partnerships or high-value ventures
1. Schedule of Capital Contributions: Detailed breakdown of each partner's initial contribution
2. Business Plan: Detailed business strategy and projections
3. Asset Register: List of partnership assets and their ownership
4. Partner Details: Detailed information about each partner including contact details
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
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