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Equal Partnership Agreement
"I need an Equal Partnership Agreement for a new dental practice in Manchester with three partners, where we'll all contribute £50,000 each initially and want to include specific provisions about patient records and medical equipment ownership."
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 Name and Business: Official name and nature of partnership business
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Equal distribution mechanisms for profits and losses
7. Management and Voting Rights: Decision-making processes and partner authorities
8. Banking and Financial Matters: Financial management and banking arrangements
9. Partner Duties and Obligations: Core responsibilities of each partner
10. Term and Termination: Duration and conditions for ending the partnership
1. Intellectual Property Rights: Provisions for IP ownership and usage rights when partnership involves creation or use of intellectual property
2. Non-Competition: Restrictions on competing activities when partners need to be restricted from competing businesses
3. International Operations: Rules for international business when partnership operates across multiple jurisdictions
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial investment
2. Schedule 2: Partnership Assets: List of assets owned by the partnership
3. Schedule 3: Partner Contact Details: Complete contact information for all partners
4. Schedule 4: Business Plan: Initial business plan and objectives
5. Appendix A: Partnership Procedures: Detailed operational procedures and policies
Authors
Assets
Business
Business Day
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Partner
Drawing Account
Financial Year
Initial Capital Contribution
Intellectual Property Rights
Management Committee
Net Profits
Partnership
Partnership Account
Partnership Property
Partners
Partnership Share
Prescribed Rate
Quarter
Relevant Proportion
Reserve Account
Retiring Partner
Special Resolution
Territory
Transfer
Unanimous Resolution
Working Capital
Commencement and Duration
Partnership Name and Business
Place of Business
Capital Contributions
Partnership Accounts
Profit and Loss Sharing
Drawings
Management and Voting Rights
Partner Obligations
Banking Arrangements
Accounting and Financial Records
Working Hours and Leave
Insurance
Intellectual Property
Confidentiality
Non-Competition
Partner Retirement
Expulsion of Partners
Death of Partner
Termination
Dissolution
Final Accounts
Dispute Resolution
Force Majeure
Notices
Assignment and Transfer
Amendments
Severability
Entire Agreement
Governing Law
Data Protection
Partnership Meetings
Decision Making
Good Faith
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