The Online Partnership Agreement is essential for parties establishing a joint online business venture in Malaysia. This document is particularly relevant in today's digital economy where businesses increasingly operate in the online space. It combines traditional partnership principles with specific provisions for digital operations, ensuring compliance with Malaysian legislation including the Partnership Act 1961, Electronic Commerce Act 2006, and Personal Data Protection Act 2010. The agreement covers crucial aspects such as digital asset ownership, online platform management, data protection responsibilities, and profit sharing mechanisms. It's designed to provide clear guidelines for partners operating digital businesses while protecting their interests and ensuring regulatory compliance.
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1. Parties: Identification of all partners including full legal names, registration numbers (if applicable), and addresses
2. Background: Context of the partnership formation and brief description of the online business venture
3. Definitions: Detailed definitions of terms used throughout the agreement, including technical and online-specific terminology
4. Partnership Structure: Legal structure of the partnership, ownership percentages, and capital contributions
5. Scope of Business: Detailed description of the online business activities and permitted operations
6. Roles and Responsibilities: Specific duties and responsibilities of each partner in managing the online business
7. Financial Arrangements: Profit sharing, loss distribution, accounting procedures, and financial management
8. Online Operations: Management of digital platforms, websites, and online services
9. Data Protection and Privacy: Compliance with PDPA 2010 and handling of customer/user data
10. Term and Termination: Duration of partnership and conditions for termination
11. Dispute Resolution: Procedures for resolving conflicts between partners
12. Governing Law: Specification of Malaysian law as governing law and jurisdiction
1. Intellectual Property Rights: Used when the partnership involves creation or use of specific IP assets
2. Non-Compete Provisions: Required when partners want to restrict competitive activities
3. Territory Restrictions: Needed when the online business is limited to specific geographic regions
4. Third-Party Platform Integration: Required when the business operates through specific online platforms
5. Marketing and Branding: Used when specific branding guidelines and marketing responsibilities need to be defined
6. Technical Support and Maintenance: Needed when the partnership includes responsibility for technical infrastructure
7. Exit Strategy: Detailed procedures for partner exit or business sale, if required
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial and ongoing capital contributions
2. Schedule 2: Profit Sharing Formula: Detailed calculation method for profit distribution
3. Schedule 3: Digital Assets Inventory: List of websites, domains, social media accounts, and other digital assets
4. Schedule 4: Technical Specifications: Technical requirements and standards for online operations
5. Schedule 5: Operational Procedures: Detailed procedures for day-to-day online business operations
6. Appendix A: Website Terms of Use: Standard terms and conditions for website users
7. Appendix B: Privacy Policy: Detailed privacy policy compliant with PDPA 2010
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