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Partnership Contract Agreement
"I need a Partnership Contract Agreement for a new tech consulting firm with three equal partners, including specific provisions for intellectual property rights and a non-compete clause valid within Greater London."
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 Business: Nature and scope of business activities
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 relevant to the business
2. Non-Competition: Restrictions on competing activities - include when partners want to prevent competition
3. International Operations: Provisions for international business - include when operating across borders
4. Good/Bad Leaver Provisions: Different treatment for various exit scenarios - include when partners want detailed exit mechanisms
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments
2. Schedule 2: Business Plan: Initial business plan and objectives
3. Schedule 3: Property Schedule: List of partnership properties and assets
4. Schedule 4: Partner Details: Detailed information about each partner
5. Appendix A: Banking Arrangements: Banking and financial procedures
Authors
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Partner
Distribution
Financial Year
Good Leaver
Bad Leaver
Initial Capital
Intellectual Property Rights
Management Board
Managing Partner
Net Profit
Net Loss
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Partner
Profit Share
Reserved Matters
Senior Partner
Territory
Transfer
Valuation
Winding Up
Working Capital
Partnership Name and Business
Duration of Partnership
Capital Contributions
Profit and Loss Sharing
Management and Decision Making
Partner Duties and Obligations
Meetings and Voting
Banking and Financial Matters
Accounting and Records
Admission of New Partners
Retirement and Removal of Partners
Death of Partner
Transfer of Partnership Interest
Non-Competition
Confidentiality
Intellectual Property
Dispute Resolution
Force Majeure
Termination
Winding Up
Good/Bad Leaver Provisions
Insurance
Indemnification
Assignment and Transfer
Notices
Amendments
Governing Law
Entire Agreement
Severability
Partnership Property
Working Capital
Distribution of Profits
Reserved Matters
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