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The Simple General Partnership Agreement is essential for parties looking to establish a partnership business structure in Singapore. This document is particularly suitable for small to medium-sized businesses where partners wish to share ownership, management responsibilities, and profits/losses. The agreement, governed by Singapore's Partnership Act, outlines crucial aspects such as capital contributions, profit distribution, decision-making processes, and exit procedures. It serves as a vital tool for preventing future disputes and ensuring clear understanding among partners regarding their rights and obligations within the partnership structure.
