Document background
The Partner Separation Agreement is essential when one or more partners decide to leave a partnership in Singapore. It provides a comprehensive framework for managing the separation process, ensuring compliance with Singapore's Partnership Act 1890 and related legislation. This document typically becomes necessary during partnership restructuring, retirement, or when partners choose to pursue different business directions. The agreement covers crucial aspects such as asset division, liability allocation, client relationships, confidentiality obligations, and potential restrictions on future business activities. It serves as a vital tool for minimizing disputes and ensuring a smooth transition while protecting the interests of all parties involved.
