1. Parties: Identification of the partners entering into the agreement, including their full legal names, registration numbers if applicable, and physical addresses
2. Background: Context of the partnership formation, including the partners' qualifications, FFC numbers, and intention to operate a real estate agency business
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the agreement
4. Formation of Partnership: Formal establishment of the partnership, including commencement date and business name
5. Business of the Partnership: Detailed description of the partnership's scope of business activities and target market
6. Capital Contributions: Details of initial and ongoing capital contributions by each partner
7. Profit and Loss Sharing: Formula and procedures for distributing profits and losses among partners
8. Management and Operations: Decision-making processes, roles, and responsibilities of each partner
9. Commission Structure: Agreement on how commissions from real estate transactions will be split
10. Compliance Requirements: Obligations regarding Estate Agency Affairs Board requirements, trust accounts, and other regulatory compliance
11. Banking and Financial Management: Procedures for managing partnership finances, bank accounts, and accounting practices
12. Professional Conduct: Standards of behavior, ethical requirements, and compliance with industry codes
13. Non-Competition: Restrictions on partners engaging in competing business activities
14. Intellectual Property: Ownership and use of partnership branding, client lists, and other IP
15. Duration and Termination: Term of partnership and conditions for termination
16. Dispute Resolution: Procedures for resolving conflicts between partners
17. General Provisions: Standard clauses including notices, governing law, and entire agreement
