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Partnership Agreement For Restaurant Business
"I need a Partnership Agreement For Restaurant Business under Singapore law for a new fine dining establishment with three partners: myself as the managing partner (51% stake), a silent investor (29% stake), and an executive chef partner (20% stake), with operations planned to commence in March 2025."
1. Parties: Identification and details of all partners entering the agreement
2. Background: Context of the partnership formation and business objectives
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form of partnership and basic framework including compliance with Partnership Act requirements
5. Capital Contributions: Initial and ongoing capital requirements from each partner
6. Profit and Loss Sharing: Distribution mechanism for profits and losses among partners
7. Management and Control: Decision-making processes, operational control, and voting rights
8. Partner Duties and Obligations: Specific responsibilities of each partner including regulatory compliance obligations
9. Business Operations: Day-to-day management, staffing, and operational procedures
10. Regulatory Compliance: Compliance with food safety, health regulations, and licensing requirements
11. Term and Termination: Duration of partnership and conditions for termination
12. Dispute Resolution: Procedures for resolving disagreements between partners
13. Governing Law: Specification of Singapore law as governing law and jurisdiction
1. Non-Compete Provisions: Restrictions on competitive activities during and after partnership
2. Intellectual Property Rights: Ownership and use of IP assets, including recipes, branding, and trade secrets
3. Death/Incapacity Provisions: Procedures and succession planning in case of death or incapacity of a partner
4. Insurance Requirements: Mandatory insurance coverage and liability protection
5. Alcohol License Provisions: Special provisions for alcohol service if applicable
6. Environmental Compliance: Specific environmental obligations and waste management procedures
1. Schedule A - Capital Contributions: Detailed breakdown of each partner's initial and planned capital contributions
2. Schedule B - Profit Sharing Formula: Detailed calculation method for profit and loss distribution
3. Schedule C - Business Plan: Initial business plan, financial projections, and operational strategy
4. Schedule D - Property Details: Restaurant premises details, lease information, and property-related obligations
5. Schedule E - Equipment Inventory: Comprehensive list of equipment, furniture, and assets owned by the partnership
6. Schedule F - Licenses and Permits: Copies of all required operational licenses, permits, and certifications
7. Schedule G - Key Personnel: List of key employees and their roles in the business
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