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Joint Business Partnership Agreement

Joint Business Partnership Agreement Template for Singapore

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Key Requirements PROMPT example:

Joint Business Partnership Agreement

"I need a Joint Business Partnership Agreement for a tech startup venture in Singapore between my software development company and a UI/UX design firm, with specific provisions for IP rights and profit sharing based on project contributions."

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Document background
The Joint Business Partnership Agreement is essential when two or more parties wish to formalize their business relationship in Singapore. This document is particularly crucial as it defines the partnership structure, outlines responsibilities, establishes profit-sharing mechanisms, and provides clarity on operational decisions. Under Singapore's legal framework, this agreement helps prevent future disputes by clearly documenting the partners' intentions and obligations. It's especially important given Singapore's strict business regulations and the need for clear governance structures in business relationships.
Suggested Sections

1. Parties: Identification and details of all partners entering the agreement

2. Background: Context and purpose of the partnership

3. Definitions: Key terms used throughout the agreement

4. Partnership Structure: Legal form, name, and business address of partnership

5. Capital Contributions: Initial and ongoing capital commitments from each partner

6. Profit and Loss Sharing: Distribution of profits and allocation of losses

7. Management and Decision Making: Governance structure and voting rights

8. Duration and Termination: Term of partnership and conditions for termination

Optional Sections

1. Non-Competition: Restrictions on partners' competing activities - used when partners have other business interests

2. Intellectual Property Rights: Ownership and use of IP within partnership - used when IP is significant to the business

3. Insurance: Required insurance coverage - used for high-risk businesses or regulatory requirements

4. Dispute Resolution: Process for resolving partner disputes - used when partners want specific dispute resolution procedures

Suggested Schedules

1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial capital contribution

2. Schedule 2: Business Plan: Initial business plan and strategy

3. Schedule 3: Partner Details: Complete partner information including contact details

4. Schedule 4: Asset Register: List of partnership assets and their ownership status

5. Appendix A: Banking Arrangements: Details of partnership bank accounts and authorized signatories

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Industries

Partnership Act (Chapter 391): The fundamental law governing partnerships in Singapore, defining rights and obligations of partners, partnership formation and dissolution, partner liability, and partnership property

Business Names Registration Act 2014: Legislation governing requirements for business registration, name reservation and registration procedures in Singapore

Companies Act (Chapter 50): Relevant legislation when partnership involves corporate entities, governing corporate structure and responsibilities

Contract Law (Chapter 53): Governs formation of contracts, contractual obligations and remedies in Singapore

Income Tax Act: Legislation covering tax obligations for partnerships and partner taxation requirements

Goods and Services Tax Act: Governs GST registration and compliance requirements for business partnerships

Competition Act: Legislation governing anti-competitive practices and fair trading requirements in Singapore

Employment Act: Relevant when partnership has employees, covering employment terms and conditions

Personal Data Protection Act 2012: Governs data protection obligations and privacy requirements for businesses in Singapore

Singapore Code of Corporate Governance: Guidelines for corporate governance practices and standards in Singapore

ACRA Requirements: Regulatory requirements set by the Accounting and Corporate Regulatory Authority for business operations in Singapore

Teams

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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