The Small Business Partnership Agreement is essential for entrepreneurs establishing a business partnership in Singapore. It serves as a foundational document that defines the relationship between partners, their rights, obligations, and responsibilities. This agreement is particularly relevant for small businesses operating under Singapore's Partnership Act, providing clear guidelines on capital contributions, profit sharing, decision-making processes, and dispute resolution mechanisms. It helps prevent misunderstandings and provides legal protection for all parties involved, while ensuring compliance with Singapore's business regulations and tax requirements.
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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 throughout the agreement
4. Partnership Structure: Legal form and basic structure of the partnership
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and losses among partners
7. Management and Decision Making: Governance structure and voting rights
8. Duration and Termination: Term of partnership and dissolution procedures
1. Non-Competition: Restrictions on partners' competing activities
2. Intellectual Property Rights: Ownership and use of IP within the partnership
3. Insurance: Required insurance coverage
4. Employee Management: Policies regarding hiring and managing employees
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial capital contribution
2. Schedule 2: Profit Sharing Ratios: Detailed formula for profit and loss distribution
3. Schedule 3: Business Plan: Initial business plan and objectives
4. Appendix A: Partner Details: Detailed information about each partner including contact details
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
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