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Joint Partnership Agreement

Joint Partnership Agreement Template for Singapore

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Key Requirements PROMPT example:

Joint Partnership Agreement

"Need a Joint Partnership Agreement for a new tech consulting business in Singapore between myself and two other partners, with equal profit sharing and an initial capital contribution of SGD 150,000 each, starting from March 2025."

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Document background
The Joint Partnership Agreement is essential for parties looking to establish a formal business partnership in Singapore. This document is particularly crucial as it provides a comprehensive framework for the partnership's operation, helping prevent future disputes and misunderstandings. It sets out key terms including capital contributions, profit-sharing ratios, management responsibilities, and dispute resolution mechanisms. The agreement must comply with Singapore's Partnership Act 1932 and related legislation, making it suitable for both local and international partners wanting to establish a business presence in Singapore.
Suggested Sections

1. Parties: Identification and details of all partners

2. Background: Context and purpose of the partnership

3. Definitions: Key terms used in the agreement

4. Partnership Business: Nature and scope of business activities

5. Capital Contributions: Initial and ongoing capital requirements

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

7. Management and Decision Making: Partnership governance structure

8. Term and Termination: Duration and termination provisions

Optional Sections

1. Non-Competition: Restrictions on competing activities - include when partners may have competing interests

2. Intellectual Property: IP ownership and usage rights - include when IP is significant to the business

3. Insurance: Required insurance coverage - include for high-risk businesses

4. International Operations: Cross-border business provisions - include for international partnerships

Suggested Schedules

1. Schedule 1: Capital Contributions: Detailed breakdown of partners' capital contributions

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

3. Schedule 3: Partner Details: Detailed information about each partner

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

5. Appendix A: Banking Arrangements: Banking and financial procedures

6. Appendix B: Accounting Policies: Agreed accounting principles and procedures

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 1932 (Chapter 391): Primary legislation that defines partnerships, their legal nature, regulates the rights and duties of partners, and governs partnership dissolution and winding up procedures

Business Names Registration Act 2014: Governs the requirements for registration of business names and compliance with business registration procedures for partnerships in Singapore

Contracts Act (Chapter 53): Establishes general contract law principles, including formation and validity of contracts, and contractual obligations and remedies

Companies Act (Chapter 50): Relevant legislation to consider if the partnership plans to convert to a company structure in the future

Income Tax Act (Chapter 134): Covers the tax treatment of partnerships and partners' tax obligations under Singapore law

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data if the partnership handles customer or employee information

Competition Act (Chapter 50B): Relevant if the partnership's activities could affect market competition in Singapore

Employment Act (Chapter 91): Governs employment relationships and must be considered if the partnership will hire employees

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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