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Partnership Agreement For Restaurant Business
"I need a Partnership Agreement For Restaurant Business under Singapore law for a new fine dining establishment with three partners: myself as the managing partner (51% stake), a silent investor (29% stake), and an executive chef partner (20% stake), with operations planned to commence in March 2025."
1. Parties: Identification and details of all partners entering the agreement
2. Background: Context of the partnership formation and business objectives
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form of partnership and basic framework including compliance with Partnership Act requirements
5. Capital Contributions: Initial and ongoing capital requirements from each partner
6. Profit and Loss Sharing: Distribution mechanism for profits and losses among partners
7. Management and Control: Decision-making processes, operational control, and voting rights
8. Partner Duties and Obligations: Specific responsibilities of each partner including regulatory compliance obligations
9. Business Operations: Day-to-day management, staffing, and operational procedures
10. Regulatory Compliance: Compliance with food safety, health regulations, and licensing requirements
11. Term and Termination: Duration of partnership and conditions for termination
12. Dispute Resolution: Procedures for resolving disagreements between partners
13. Governing Law: Specification of Singapore law as governing law and jurisdiction
1. Non-Compete Provisions: Restrictions on competitive activities during and after partnership
2. Intellectual Property Rights: Ownership and use of IP assets, including recipes, branding, and trade secrets
3. Death/Incapacity Provisions: Procedures and succession planning in case of death or incapacity of a partner
4. Insurance Requirements: Mandatory insurance coverage and liability protection
5. Alcohol License Provisions: Special provisions for alcohol service if applicable
6. Environmental Compliance: Specific environmental obligations and waste management procedures
1. Schedule A - Capital Contributions: Detailed breakdown of each partner's initial and planned capital contributions
2. Schedule B - Profit Sharing Formula: Detailed calculation method for profit and loss distribution
3. Schedule C - Business Plan: Initial business plan, financial projections, and operational strategy
4. Schedule D - Property Details: Restaurant premises details, lease information, and property-related obligations
5. Schedule E - Equipment Inventory: Comprehensive list of equipment, furniture, and assets owned by the partnership
6. Schedule F - Licenses and Permits: Copies of all required operational licenses, permits, and certifications
7. Schedule G - Key Personnel: List of key employees and their roles in the business
Authors
Business
Business Day
Business Hours
Business Name
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Effective Date
Financial Year
Intellectual Property
Inventory
Licensed Premises
Managing Partner
Net Profits
Operating Expenses
Partner(s)
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Premises
Restaurant
Restaurant Equipment
Restaurant Licenses
SGBD
SGD
Trade Secrets
Working Capital
Initial Capital
Majority Decision
Management Committee
Material Breach
Operating Account
Permitted Use
Profit Share
Regulatory Requirements
Related Party
Reserved Matters
Transfer
Valuation Date
Withdrawal Notice
Term and Duration
Capital Contributions
Profit and Loss Sharing
Management and Control
Voting Rights
Partner Duties and Obligations
Operational Responsibilities
Business Hours and Operations
Financial Management
Banking Arrangements
Accounting and Records
Decision Making
Reserved Matters
Non-Competition
Confidentiality
Intellectual Property
Partner Withdrawal
Death or Incapacity
Transfer of Interest
Admission of New Partners
Termination
Force Majeure
Dispute Resolution
Insurance
Indemnification
Compliance and Licenses
Health and Safety
Food Safety
Employment Matters
Property and Equipment
Amendments
Notices
Governing Law
Entire Agreement
Severability
Assignment
Third Party Rights
Waiver
Costs and Expenses
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