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Partnership Term Sheet
"Need a Partnership Term Sheet for a new tech startup between three founding partners, with equal profit sharing and capital contributions of SGD 500,000 each, planning to launch operations in March 2025 in Singapore's cybersecurity sector."
1. Parties: Details of all partners and their contact information
2. Background: Context and purpose of the partnership
3. Definitions: Key terms used throughout the term sheet
4. Business Purpose: Detailed description of partnership business activities
5. Capital Contributions: Initial and ongoing capital commitments
6. Profit and Loss Sharing: Distribution ratios and mechanisms
7. Management Rights: Decision-making authority and voting rights
1. Non-Compete Provisions: Restrictions on competitive activities - used when partners may have competing interests
2. Intellectual Property Rights: Ownership and usage of IP - included when IP is significant to the business
3. Exit Mechanisms: Procedures for partner withdrawal or sale - recommended for longer-term partnerships
4. International Operations: Cross-border business provisions - required for international partnerships
1. Schedule A - Initial Capital Contributions: Detailed breakdown of partner contributions
2. Schedule B - Business Plan: Initial business strategy and projections
3. Schedule C - Partner Details: Comprehensive partner information and contacts
4. Schedule D - Assets Schedule: List of partnership assets and valuations
Authors
Partners
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Effective Date
Financial Year
Initial Capital
Intellectual Property Rights
Management Committee
Managing Partner
Material Breach
Net Profit
Operating Expenses
Partnership Agreement
Partnership Assets
Partnership Interest
Profit Share
Reserved Matters
Singapore Dollars
SGD
Term
Territory
Transfer
Valuation
Working Capital
Term and Termination
Capital Contributions
Profit and Loss Distribution
Management Rights
Decision Making
Reserved Matters
Meetings
Banking and Financial Matters
Accounting and Records
Partner Commitments
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Partnership Assets
Transfer of Interest
Admission of New Partners
Exit Provisions
Death or Incapacity
Default
Dispute Resolution
Governing Law
Force Majeure
Notices
Amendment Process
Representations and Warranties
Business Plan and Budget
Deadlock Resolution
Partner Obligations
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