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Joint Partnership Agreement
"I need a Joint Partnership Agreement for a technology consulting firm with three partners based in Auckland, including provisions for international clients and intellectual property protection, planned to commence from March 2025."
1. Parties: Identification and details of all partners entering into the agreement
2. Background: Context of the partnership formation and partners' intentions
3. Definitions and Interpretation: Definitions of key terms used in the agreement and interpretation rules
4. Partnership Formation: Establishment of the partnership, commencement date, and business purpose
5. Capital Contributions: Initial and ongoing capital contributions from each partner
6. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners
7. Management and Decision Making: Partnership management structure and decision-making processes
8. Partners' Duties and Obligations: Key responsibilities and obligations of all partners
9. Banking and Financial Records: Requirements for maintaining financial records and banking arrangements
10. Meetings and Reporting: Requirements for partner meetings and financial reporting
11. Restrictions on Partners: Non-compete and other restrictive covenants
12. Intellectual Property: Ownership and use of partnership intellectual property
13. Addition of New Partners: Process for admitting new partners to the partnership
14. Withdrawal and Retirement: Procedures for partner withdrawal or retirement
15. Termination: Circumstances and procedures for partnership termination
16. Dispute Resolution: Process for resolving disputes between partners
17. General Provisions: Standard boilerplate clauses including governing law, notices, and amendments
1. Partnership Property: Specific provisions for jointly owned property - include when partnership owns significant assets
2. Goodwill: Provisions regarding partnership goodwill valuation and allocation - include for professional services firms
3. Insurance: Requirements for business insurance - include when significant business risks exist
4. Employment of Partners: Terms for partners working in the business - include when partners will be actively involved in operations
5. Confidentiality: Detailed confidentiality provisions - include when dealing with sensitive information or trade secrets
6. Death of Partner: Specific provisions for handling a partner's death - include when partners are individuals rather than entities
7. International Operations: Provisions for international business - include when operating across borders
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial capital contributions
2. Schedule 2: Profit Sharing Ratios: Specific percentages or formulas for profit and loss allocation
3. Schedule 3: Partnership Property: List and description of all partnership property and assets
4. Schedule 4: Intellectual Property Register: Register of all intellectual property owned by or licensed to the partnership
5. Schedule 5: Management Structure: Detailed management structure and responsibilities
6. Schedule 6: Business Plan: Initial business plan and strategic objectives
7. Appendix A: Valuation Methodology: Agreed methodology for valuing partnership interests
8. Appendix B: Partner Contact Details: Contact information and notice details for all partners
Authors
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Distribution
Drawing Account
Effective Date
Financial Year
Goodwill
GST
Initial Capital
Intellectual Property
Management Committee
Material Breach
Net Profit
New Partner
Operating Expenses
Outgoing Partner
Partner
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Profit and Loss Share
Related Party
Remaining Partners
Resolution
Retiring Partner
Special Resolution
Territory
Transfer
Valuation Date
Working Capital
Formation of Partnership
Partnership Term
Capital Contributions
Profit and Loss Sharing
Management
Decision Making
Financial Matters
Banking
Accounting
Partner Duties
Non-Competition
Confidentiality
Intellectual Property
Insurance
Indemnification
Meetings
Reporting
Addition of Partners
Transfer Restrictions
Withdrawal
Retirement
Death of Partner
Termination
Dissolution
Dispute Resolution
Force Majeure
Notices
Assignment
Amendment
Severability
Governing Law
Entire Agreement
Professional Services
Consulting
Real Estate
Construction
Retail
Healthcare
Legal Services
Accounting Services
Technology
Manufacturing
Agriculture
Hospitality
Education and Training
Creative Industries
Legal
Finance
Corporate Development
Operations
Executive Leadership
Risk Management
Compliance
Business Development
Administration
Strategy
Managing Partner
Chief Executive Officer
Business Owner
Chief Financial Officer
Legal Counsel
Corporate Lawyer
Business Development Manager
Operations Director
Partnership Manager
Finance Director
Company Secretary
Professional Practitioner
Entrepreneur
Strategic Planning Director
Risk Manager
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