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Partnership Contract Agreement Template for Singapore

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Key Requirements PROMPT example:

Partnership Contract Agreement

"Need a Partnership Contract Agreement for a new software development venture in Singapore between three partners, with specific provisions for intellectual property rights and a 70-20-10 profit sharing structure, to be effective from March 2025."

Document background
The Partnership Contract Agreement is essential for businesses establishing a partnership structure in Singapore. It serves as the foundational document outlining the relationship between partners, their rights, responsibilities, and the operational framework of the business. This agreement is particularly crucial under Singapore's legal system, which emphasizes clear documentation of business relationships. It includes detailed provisions for capital contributions, profit sharing, management rights, dispute resolution, and exit mechanisms, all while ensuring compliance with Singapore's Partnership Act and related legislation.
Suggested Sections

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

2. Background: Context and purpose of the partnership formation

3. Definitions: Key terms used throughout the agreement

4. Partnership Structure: Nature of partnership, ownership percentages, and capital contributions

5. Management and Decision Making: Partner roles, voting rights, and operational procedures

6. Financial Arrangements: Profit sharing, losses, accounting procedures, and banking arrangements

7. Duration and Termination: Partnership term and conditions for dissolution

Optional Sections

1. Non-Competition: Restrictions on competing activities - used when partners may have competing interests or businesses

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. International Operations: Cross-border business provisions - used when partnership operates internationally

Suggested Schedules

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

2. Schedule 2: Profit Sharing Formula: Detailed calculation method for profit distribution

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

4. Schedule 4: Business Plan: Initial business plan and strategic objectives

5. Appendix A: Partnership Policies: Internal policies and procedures

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

Relevant legal definitions






























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Industries

Partnership Act (Chapter 391): Primary legislation governing partnerships in Singapore, covering definition of partnerships, partners' rights and obligations, partnership property, relations between partners, and dissolution procedures

Business Names Registration Act 2014: Legislation governing business registration requirements, name reservation and registration procedures, and ongoing compliance obligations for partnerships

Income Tax Act: Tax legislation covering partnership taxation, individual partners' tax obligations, and GST registration requirements if applicable

Employment Act: Legal framework for employment matters if the partnership has employees, including employment terms, conditions, and workplace obligations

Personal Data Protection Act 2012: Legislation governing data protection obligations and handling of partner and customer personal data

Competition Act: Laws governing anti-competitive practices and fair trading requirements applicable to partnerships

Contract Law: Common Law principles governing formation of contracts, contractual obligations, and remedies for breach

Civil Law Act: Legislation covering general contractual principles and enforceability of agreements 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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