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Photography Partnership Agreement
"I need a Photography Partnership Agreement for a new partnership between three professional wedding photographers, where we'll be sharing studio space and equipment equally, with specific provisions for client allocation and profit sharing to start from March 2025."
1. Parties: Identifies all partners and their contact details
2. Background: Explains context and purpose of partnership
3. Definitions: Defines key terms used throughout agreement
4. Partnership Structure: Details ownership percentages and capital contributions
5. Profit and Loss Sharing: Specifies how profits and losses will be distributed
6. Management and Decision Making: Outlines management structure and voting rights
7. Intellectual Property Rights: Addresses ownership and usage of photographs and other IP
8. Termination: Details circumstances and process for ending partnership
1. Non-Compete Clause: Restricts partners from competing activities when partners want to protect business interests post-partnership
2. Equipment Usage: Rules for shared equipment and resources when partners share significant photography equipment
3. Client Management: Procedures for client allocation and management when partners serve separate client bases
4. Insurance Requirements: Specifies required insurance coverage when specific insurance needs exist
1. Schedule 1: Capital Contributions: Detailed list of initial capital contributions by each partner
2. Schedule 2: Equipment Inventory: List of shared photography equipment and ownership details
3. Schedule 3: Client List: Existing client relationships and their allocation
4. Schedule 4: Business Plan: Initial business plan and growth strategy
5. Appendix A: Photography Style Guide: Standards for photography work and branding
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