The Partnership Agreement is a fundamental document for businesses operating as partnerships in Singapore. It serves as the governing document that outlines the relationship between partners, their respective rights and obligations, capital contributions, profit-sharing arrangements, and operational procedures. This agreement is essential for compliance with Singapore's Partnership Act 1890 and related regulations. Partners should enter into this agreement at the commencement of their business relationship to establish clear guidelines and prevent future disputes. The agreement provides flexibility while ensuring legal compliance and protection for all parties involved.
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1. Parties: Details of all partners entering the agreement
2. Background: Context and purpose of the partnership
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Basic structure and nature of the partnership including registration requirements under Singapore law
5. Capital Contributions: Initial and ongoing capital requirements for each partner
6. Profit and Loss Sharing: Distribution of profits and losses among partners
7. Management Rights: Decision-making processes and management structure of the partnership
8. Duration: Term of partnership and renewal provisions
9. Partner Duties and Obligations: Rights, duties and obligations of partners as per Partnership Act
10. Dissolution: Procedures for partnership dissolution and winding up
1. Non-Competition: Restrictions on partners engaging in competing activities during and after partnership
2. Intellectual Property: Ownership and usage rights of partnership intellectual property
3. Insurance: Required insurance coverage and obligations
4. Employee Management: Procedures for hiring and managing partnership employees
5. Dispute Resolution: Procedures for resolving disputes between partners
1. Schedule 1: Capital Contributions: Detailed breakdown of initial capital contributions from each partner
2. Schedule 2: Profit Sharing Formula: Detailed calculation method for profit and loss distribution
3. Schedule 3: Business Plan: Initial business plan and financial projections
4. Schedule 4: Partner Details: Detailed information about each partner including contact details and business registration information
5. Schedule 5: Compliance Requirements: List of regulatory compliance requirements under Singapore law
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