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Standard Partnership Agreement
"I need a Standard Partnership Agreement for a new medical practice in London with three equal partners, including provisions for profit sharing and potential future expansion, to be effective from March 2025."
1. Parties: Details of all partners entering into 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 the partnership business
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management and Decision Making: Governance structure and voting rights
8. Duration and Termination: Term of partnership and termination provisions
1. Intellectual Property Rights: IP ownership and licensing arrangements - include when partnership involves creation or use of intellectual property
2. Non-Competition: Restrictions on competing activities - include when partners need to be restricted from competing activities
3. International Operations: Provisions for international business - include when partnership operates across multiple jurisdictions
4. Professional Indemnity: Professional liability provisions - include for professional services partnerships
1. Schedule 1: Capital Contributions: Detailed breakdown of partner contributions
2. Schedule 2: Profit Sharing Ratios: Detailed profit distribution mechanisms
3. Schedule 3: Partnership Property: List of partnership assets and ownership details
4. Appendix A: Business Plan: Initial business plan and strategy
5. Appendix B: Partner Details: Detailed information about each partner
Authors
Business
Business Day
Business Hours
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Partner
Drawing Account
Financial Year
Insolvency Event
Intellectual Property Rights
Management Committee
Managing Partner
Material Breach
Net Profits
Net Losses
Partner
Partnership
Partnership Assets
Partnership Bank Account
Partnership Capital
Partnership Interest
Partnership Property
Professional Rules
Profit Share
Regulatory Requirements
Reserved Matters
Retiring Partner
Senior Partner
Tax
Territory
Transfer
Valuation Date
Working Capital
Capital Contributions
Profit and Loss Sharing
Management and Decision Making
Partner Duties and Obligations
Meetings
Voting Rights
Financial Records
Banking
Accounting
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Partner Admission
Partner Retirement
Partner Expulsion
Death of Partner
Disability of Partner
Transfer of Partnership Interest
Valuation
Dissolution
Winding Up
Dispute Resolution
Force Majeure
Insurance
Indemnification
Notices
Amendments
Governing Law
Partnership Property
Business Name and Branding
Partnership Expenses
Partner Authority
Professional Standards
Data Protection
Anti-Money Laundering
Severability
Entire Agreement
Third Party Rights
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