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Preliminary Partnership Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Preliminary Partnership Agreement

"I need a Preliminary Partnership Agreement for a Hong Kong technology startup partnership between my software development company and an AI research firm, with plans to finalize the full partnership by March 2025 and including specific provisions for IP protection and future external funding."

Document background
The Preliminary Partnership Agreement is a crucial document used in Hong Kong when two or more parties intend to form a business partnership but need to establish initial terms before finalizing a full partnership arrangement. This document is particularly valuable during the early stages of partnership negotiations, providing a structured framework while allowing flexibility for future modifications. It typically includes essential elements such as partner details, preliminary capital commitments, basic management structure, and confidentiality provisions, all governed by Hong Kong law. The agreement serves as a bridge between initial discussions and a final partnership agreement, offering legal protection while partners conduct due diligence, develop business plans, or secure necessary approvals.
Suggested Sections

1. Parties: Identification and details of all prospective partners, including full legal names, addresses, and registration details for corporate partners

2. Background: Context of the partnership formation, including the general business purpose and intentions of the parties

3. Definitions: Key terms used throughout the agreement, ensuring clear interpretation

4. Partnership Structure: Basic framework of the partnership, including partnership type and preliminary management structure

5. Business Purpose: Detailed description of the intended business activities and scope

6. Initial Capital Contributions: Preliminary commitments for capital contributions from each partner

7. Profit and Loss Sharing: Preliminary agreement on how profits and losses will be shared

8. Management and Decision Making: Basic framework for partnership management and decision-making processes

9. Duration and Timeline: Timeline for finalizing the full partnership agreement and any key milestones

10. Confidentiality: Obligations regarding confidential information shared during the preliminary phase

11. Governing Law and Jurisdiction: Specification of Hong Kong law as governing law and jurisdiction

12. Signing and Execution: Execution provisions and signature blocks

Optional Sections

1. Intellectual Property: Required when partners are bringing existing IP into the partnership or if IP will be developed during the preliminary phase

2. Non-Competition: Include when partners have competing business interests or there's a risk of competition during the preliminary phase

3. Due Diligence: Include when partners need to conduct investigations or verify information before finalizing the partnership

4. Break Fee: Include when parties want to specify compensation if one party withdraws from the preliminary agreement

5. External Funding: Required when the partnership anticipates seeking external funding during the preliminary phase

6. Regulatory Approvals: Include when the partnership requires specific licenses or regulatory approvals to operate

Suggested Schedules

1. Schedule 1 - Partner Information: Detailed information about each partner, including contact details and representative information

2. Schedule 2 - Initial Capital Commitments: Detailed breakdown of preliminary capital commitments, including timing and form of contributions

3. Schedule 3 - Business Plan Overview: High-level business plan and strategic objectives for the partnership

4. Schedule 4 - Key Assets: List of key assets each partner will contribute or make available to the partnership

5. Appendix A - Required Regulatory Filings: List of necessary regulatory filings and registrations for the partnership in Hong Kong

6. Appendix B - Timeline and Milestones: Detailed timeline for partnership formation and key milestones to be achieved

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Professional Services

Retail

Technology

Manufacturing

Financial Services

Real Estate

Construction

Healthcare

Education

Consulting

Import/Export

Food and Beverage

Relevant Teams

Legal

Finance

Corporate Development

Business Development

Compliance

Operations

Executive Leadership

Risk Management

Corporate Secretarial

Relevant Roles

Chief Executive Officer

Managing Director

Business Development Manager

Legal Counsel

Chief Financial Officer

Partnership Manager

Business Owner

Company Director

Corporate Lawyer

Finance Director

Operations Manager

Compliance Officer

Industries





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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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