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Mutual Partnership Agreement
"I need a Mutual Partnership Agreement for a new technology consulting firm with three partners, where we'll have equal ownership but different management responsibilities, and we plan to start operations in March 2025."
1. Parties: 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 Name and Business: Official name and nature of business
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and losses
7. Management and Decision Making: Governance structure and voting rights
8. Duration and Termination: Term of partnership and exit provisions
1. Intellectual Property Rights: IP ownership and usage rights - include when IP is significant to the business
2. Non-Compete Provisions: Restrictions on competitive activities - include when partners may compete post-exit
3. International Operations: Rules for international business - include when partnerships operating across borders
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments
2. Schedule 2: Business Plan: Initial business plan and strategy
3. Schedule 3: Partnership Assets: List of partnership property and assets
4. Schedule 4: Partner Details: Detailed information about each partner
Authors
Capital Contributions
Profit and Loss Sharing
Management Rights
Decision Making
Partner Duties
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Banking and Finance
Partner Retirement
Death or Incapacity
Expulsion
Dissolution
Dispute Resolution
Governing Law
Force Majeure
Amendments
Notices
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