50 50 Partnership Agreement Template for Australia

1. Non-Competition: Restrictions on partners competing with the partnership - include when partners have other business interests

2. Intellectual Property Protection: Detailed IP provisions - include when the business relies heavily on proprietary IP

3. Insurance Requirements: Specific insurance obligations - include for high-risk businesses

4. Employment of Partners: Terms for partners working in the business - include when partners will be employed by the partnership

5. External Funding: Provisions for seeking and managing external funding - include if business likely to need external capital

6. Business Premises: Provisions regarding business location and premises - include if operating from specific premises

7. Succession Planning: Provisions for continuation after death/incapacity - include for long-term partnerships or high-value businesses

1. Schedule 1 - Initial Capital Contributions: Detailed list of cash, assets, and valuations of initial partner contributions

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

3. Schedule 3 - Partnership Assets: Comprehensive list of partnership assets and their agreed values

4. Schedule 4 - Intellectual Property Register: List of IP owned by or licensed to the partnership

5. Schedule 5 - Partner Duties: Detailed description of each partner's roles and responsibilities

6. Schedule 6 - Approved Drawing Amounts: Agreed regular drawing amounts for each partner

7. Appendix A - Valuation Methodology: Agreed method for valuing partnership interests for exit/dissolution