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General Partnership Operating Agreement
"I need a General Partnership Operating Agreement for a new tech consulting firm in Singapore with tHRee equal partners, each contributing SGD 50,000 initial capital, with specific provisions for intellectual property sharing and client confidentiality."
1. Parties: Identification of all partners and their contact details
2. Background: Context and purpose of forming the partnership
3. Definitions: Key terms used tHRoughout the agreement
4. Partnership Name and Business: Official name and nature of business activities
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management Rights: Decision-making processes and authority
8. Banking and Financial Matters: Banking arrangements and financial management
9. Term and Termination: Duration and conditions for termination
1. Non-Competition: Restrictions on competing activities - use when partners may have competing interests
2. Intellectual Property: Ownership and use of IP - include when IP is significant to the business
3. Insurance: Required insurance coverage - include for high-risk businesses
4. Dispute Resolution: Process for resolving disagreements - include when partners want specific dispute mechanisms
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial contribution
2. Schedule 2: Profit Sharing Ratios: Specific percentages for profit distribution
3. Schedule 3: Partner Details: Complete information about each partner
4. Schedule 4: Business Plan: Initial business plan and projections
5. Appendix A: Partnership Policies: Day-to-day operational policies
Authors
Business
Business Day
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Financial Year
Initial Capital
Intellectual Property Rights
Management Committee
Partner
Partnership
Partnership Interest
Partnership Property
Profit and Loss
SGD
Territory
Withdrawal Notice
Formation of Partnership
Nature of Business
Term and Duration
Capital Contributions
Partnership Property
Banking and Financial Matters
Profit and Loss Distribution
Management and Decision Making
Partner Rights and Obligations
Meetings
Accounting and Records
Admission of New Partners
Transfer of Partnership Interest
Withdrawal of Partners
Death or Incapacity
Termination and Dissolution
Confidentiality
Non-Competition
Intellectual Property
Dispute Resolution
Force Majeure
Notices
Insurance
Governing Law
Amendment Procedures
Entire Agreement
Severability
Assignment
Further Assurance
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