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Partner Dissolution Agreement
"I need a Partner Dissolution Agreement for a three-person architectural firm in Auckland, where one partner is retiring on March 1, 2025, and we want to ensure a smooth transition of ongoing projects and client relationships."
1. Parties: Identification of all partners involved in the dissolution agreement
2. Background: Context of the partnership, including formation date, business nature, and reason for dissolution
3. Definitions: Key terms used throughout the agreement
4. Effective Date of Dissolution: Specific date when the partnership will be officially dissolved
5. Distribution of Assets: Details of how partnership assets will be divided among partners
6. Settlement of Liabilities: Allocation of responsibility for partnership debts and obligations
7. Final Accounting: Process for conducting final partnership accounting and financial settlements
8. Client and Contract Arrangements: Handling of existing client relationships and ongoing contracts
9. Confidentiality: Ongoing obligations regarding partnership confidential information
10. Non-Competition and Non-Solicitation: Restrictions on partners' future business activities
11. Release and Indemnification: Mutual release of claims and indemnification provisions
12. Dispute Resolution: Process for resolving any disputes arising from the dissolution
13. Governing Law: Specification of New Zealand law as governing law
14. General Provisions: Standard clauses including notices, amendments, and severability
1. Intellectual Property Rights: Distribution of IP rights when the partnership owns significant intellectual property
2. Employee Arrangements: Required when the partnership has employees who need to be retained or terminated
3. Ongoing Litigation: Handling of pending legal matters and allocation of responsibilities
4. Professional Licenses: Required for professional service partnerships where licenses or certifications are involved
5. Insurance Matters: Handling of insurance policies and ongoing coverage requirements
6. Tax Provisions: Specific tax arrangements and obligations when complex tax matters are involved
7. Transition Services: When partners need to provide transitional support post-dissolution
8. Property Lease Arrangements: Required when dealing with commercial property leases or premises
1. Schedule A - Asset Register: Detailed list of all partnership assets and their agreed distribution
2. Schedule B - Liability Register: Comprehensive list of partnership liabilities and allocation
3. Schedule C - Client List: List of clients and agreed arrangements for their transition
4. Schedule D - Financial Statement: Final partnership financial statements and balance sheet
5. Schedule E - Settlement Payments: Details of any financial settlements between partners
6. Appendix 1 - Valuation Reports: Independent valuations of partnership assets if applicable
7. Appendix 2 - Resignation Letters: Official partner resignation letters and related documents
8. Appendix 3 - Transfer Documents: Legal documents for transferring assets or contracts
Authors
Professional Services
Legal Services
Accounting and Financial Services
Medical Practices
Architecture and Design
Engineering Consultancies
Real Estate
Construction
Retail
Hospitality
Agricultural Services
Technology and Software Development
Management Consulting
Marketing and Advertising
Legal
Finance
Compliance
Risk Management
Operations
Business Development
Corporate Secretariat
Executive Leadership
Accounting
Administration
Managing Partner
Senior Partner
Junior Partner
CEO
Business Owner
Legal Counsel
General Counsel
Chief Financial Officer
Finance Director
Business Development Director
Operations Manager
Partnership Administrator
Compliance Officer
Risk Manager
Company Secretary
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