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Partnership Agreement In Written Form
1. Parties: Identification and details of all partners entering the agreement
2. Background: Context of the partnership formation and brief description of partners' intention to collaborate
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Name and Purpose: Official name of the partnership and detailed description of its business objectives
5. Commencement and Duration: Start date of the partnership and whether it's for a fixed term or indefinite period
6. Capital Contributions: Details of initial and any agreed future capital contributions from each partner
7. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners
8. Management and Decision Making: Structure for partnership management and process for making business decisions
9. Partners' Duties and Obligations: Specific responsibilities and commitments of each partner
10. Banking and Financial Matters: Banking arrangements, financial procedures, and accounting practices
11. Admission of New Partners: Process and conditions for admitting new partners to the partnership
12. Withdrawal and Retirement: Procedures for partner withdrawal or retirement from the partnership
13. Termination: Circumstances and procedures for terminating the partnership
14. Governing Law: Confirmation of Danish law as governing law and jurisdiction
15. Signatures: Execution block for all partners to sign the agreement
1. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property - include when IP is significant to the business
2. Non-Competition: Restrictions on partners competing with the partnership - include when protecting business interests is crucial
3. Confidentiality: Obligations regarding confidential information - include when dealing with sensitive business information
4. Insurance: Requirements for business insurance - include when specific insurance coverage is necessary
5. Dispute Resolution: Alternative dispute resolution procedures - include when partners want to specify mediation or arbitration
6. Death of a Partner: Procedures following a partner's death - include when continuity planning is important
7. Good Will: Valuation and treatment of partnership goodwill - include when significant goodwill exists
8. Partnership Property: Detailed provisions about ownership and use of partnership assets - include when significant assets are involved
1. Schedule 1 - Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions, including valuations of non-cash assets
2. Schedule 2 - Profit Sharing Ratios: Detailed breakdown of profit and loss sharing arrangements, including any variable elements
3. Schedule 3 - Business Plan: Initial business plan and strategy for the partnership
4. Schedule 4 - Partners' Authority Limits: Specific financial and operational authority limits for each partner
5. Schedule 5 - Asset Register: List of partnership assets and their agreed values
6. Appendix A - Partnership Premises: Details of any premises owned or leased by the partnership
7. Appendix B - Key Contracts: List of important contracts and business relationships
8. Appendix C - Specimen Signatures: Sample signatures of all partners for banking and official purposes
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