Partnership Contract Template for Singapore

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Key Requirements PROMPT example:

Partnership Contract

"Need a Partnership Contract for a new tech consulting firm in Singapore with three equal partners, including specific provisions for intellectual property rights and client confidentiality, planned to commence operations on March 1, 2025."

Document background

The Partnership Contract is essential for businesses establishing a partnership structure in Singapore. It serves as the foundational document defining the relationship between partners, their rights, obligations, and responsibilities. Compliant with Singapore's Partnership Act 1890 and related legislation, this contract typically includes provisions for capital contributions, profit sharing, management rights, and dispute resolution. It's particularly crucial for protecting partners' interests and establishing clear operational guidelines, making it a vital document for any business partnership in Singapore.

Suggested Sections

1. Parties: Identifies all partners and their details

2. Background: Explains context and purpose of partnership

3. Definitions: Defines key terms used in agreement

4. Partnership Name and Business: Specifies partnership name and nature of business

5. Capital Contributions: Details initial and ongoing capital contributions

6. Profit and Loss Sharing: Defines how profits and losses are distributed

7. Management Rights: Outlines management structure and decision-making

8. Partner Duties: Lists obligations and responsibilities of partners

9. Term and Termination: Specifies duration and termination conditions

Optional Sections

1. Non-Competition: Restricts partners from competing activities when partners may have competing interests

2. Intellectual Property: Addresses IP ownership and usage when partnership involves IP creation

3. Additional Capital: Procedures for additional capital injection when future capital needs are anticipated

4. Partner Insurance: Requirements for life/health insurance when partners want mutual protection

Suggested Schedules

1. Initial Capital Contributions Schedule: Detailed breakdown of each partner's initial contribution

2. Asset Register: List of partnership assets and their values

3. Partner Details Schedule: Detailed information about each partner

4. Business Plan: Initial business plan and projections

5. Partner Authority Limits Schedule: Spending and decision-making authority limits for each partner

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Professional Services
Retail
Technology
Real Estate
Food & Beverage

Relevant Teams

Legal
Finance
Operations
Corporate Governance
Business Development

Relevant Roles

Managing Partner
Business Owner
Chief Executive Officer
Chief Financial Officer
General Counsel

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Authors

Alex Denne

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