The Pharmacy Partnership Agreement is essential when two or more registered pharmacists wish to establish a joint pharmacy business in England or Wales. This document outlines the framework for the partnership's operation, including regulatory compliance, financial arrangements, and professional obligations. It ensures adherence to the Medicines Act 1968, Pharmacy Order 2010, and other relevant healthcare legislation while establishing clear guidelines for partnership management, dispute resolution, and business succession.
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Key Requirements PROMPT example:
Pharmacy Partnership Agreement
"I need a Pharmacy Partnership Agreement for three registered pharmacists establishing a new pharmacy business in Manchester, with equal profit sharing and specific provisions for NHS service delivery starting from March 2025."
1. Parties: Details of all partners entering the agreement including their professional qualifications and GPhC registration numbers
2. Background: Context of the partnership formation, business objectives, and regulatory framework
3. Definitions: Key terms used throughout the agreement, including regulatory and professional terminology
4. Partnership Structure: Legal form of partnership, profit sharing arrangements, capital contributions, and voting rights
5. Professional Obligations: Compliance with GPhC requirements, NHS standards, and other regulatory obligations
6. Management and Decision Making: Day-to-day operations, voting procedures, and requirements for major decisions
7. Financial Arrangements: Capital accounts, profit distribution, expense allocation, and financial reporting
8. Regulatory Compliance: Professional standards, premises requirements, record keeping, and data protection obligations
9. Term and Termination: Duration of partnership, exit provisions, and dissolution procedures
1. Non-Compete Provisions: Restrictions on competing activities during and after partnership termination
2. Intellectual Property: Ownership and use of pharmacy brand, systems, and other intellectual property
3. Employee Management: Staff hiring, management procedures, and employment policies
1. Schedule 1 - Partner Details: Comprehensive information about partners including qualifications, registration numbers, and contact details
2. Schedule 2 - Premises Details: Location information, lease arrangements, and premises certificates
3. Schedule 3 - Capital Contributions: Details of initial and ongoing financial commitments from each partner
4. Schedule 4 - NHS Contract Details: Terms and conditions of NHS service provision and contract requirements
5. Schedule 5 - Operating Procedures: Standard operating procedures and quality standards for pharmacy operations
6. Schedule 6 - Insurance Requirements: Professional indemnity and premises insurance specifications
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