tiktok成人版

Partnership Separation Agreement for Hong Kong

Partnership Separation Agreement Template for Hong Kong

A comprehensive legal document governed by Hong Kong law that formalizes the dissolution and separation of a partnership, detailing the terms and conditions under which the partners agree to terminate their business relationship. The agreement addresses key aspects including asset division, liability allocation, client distribution, and ongoing obligations, while ensuring compliance with Hong Kong's Partnership Ordinance (Cap. 38) and related legislation. It provides a clear framework for the separation process, protecting all parties' interests and minimizing the risk of future disputes.

Your data doesn't train Genie's AI

You keep IP ownership聽of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Partnership Separation Agreement

Let tiktok成人版's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Partnership Separation Agreement?

The Partnership Separation Agreement is a crucial document used when partners decide to end their business relationship and require a formal framework for dissolution. It is particularly relevant in Hong Kong's dynamic business environment, where partnerships are a common business structure across various industries. This document, governed by Hong Kong law and compliant with the Partnership Ordinance (Cap. 38), provides comprehensive coverage of all aspects of the separation, including asset division, liability allocation, client relationships, and post-separation obligations. It serves as both a roadmap for the separation process and a legally binding agreement that protects all parties' interests, helping to prevent future disputes and ensuring a smooth transition for the business and its stakeholders.

What sections should be included in a Partnership Separation Agreement?

1. Parties: Identification of all partners involved in the separation agreement

2. Background: Brief history of the partnership, reason for separation, and context of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Effective Date: Specification of when the separation becomes effective

5. Division of Partnership Assets: Detailed arrangement for the division of all partnership assets

6. Assumption of Liabilities: Allocation of existing partnership liabilities among partners

7. Client and Contract Arrangements: Distribution and handling of existing clients and contracts

8. Financial Settlements: Terms of financial settlements including capital accounts and profit sharing

9. Confidentiality: Obligations regarding confidential information post-separation

10. Non-Compete and Non-Solicitation: Restrictions on competitive activities and client solicitation

11. Release and Indemnification: Mutual release of claims and indemnification provisions

12. Notices: Process for giving formal notices under the agreement

13. Governing Law: Specification of Hong Kong law as governing law

14. Dispute Resolution: Procedures for resolving any disputes arising from the agreement

What sections are optional to include in a Partnership Separation Agreement?

1. Intellectual Property Rights: Division of IP rights where the partnership owns significant IP assets

2. Ongoing Projects: Handling of incomplete projects and work in progress

3. Employee Arrangements: Distribution of responsibilities for employees if the partnership has staff

4. Insurance Matters: Arrangements for existing insurance policies and future coverage

5. Tax Matters: Specific tax arrangements and responsibilities if complex tax issues exist

6. Pending Litigation: Handling of any ongoing legal proceedings involving the partnership

7. Use of Partnership Name: Agreements regarding future use of the partnership name and branding

8. Transition Services: Temporary services to be provided between partners during transition

What schedules should be included in a Partnership Separation Agreement?

1. Schedule 1 - Asset Register: Comprehensive list of partnership assets and their agreed distribution

2. Schedule 2 - Liability Register: List of all partnership liabilities and their allocation

3. Schedule 3 - Client List: Complete list of clients and their allocation between partners

4. Schedule 4 - Financial Statement: Current financial position of the partnership

5. Schedule 5 - Settlement Calculations: Detailed calculations of financial settlements between partners

6. Appendix A - Handover Protocol: Detailed procedures for transferring assets, clients, and responsibilities

7. Appendix B - Required Notices: Templates for notices to clients, suppliers, and other stakeholders

Authors

Alex Denne

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

Jurisdiction

Hong Kong

Cost

Free to use
Relevant legal definitions































Clauses






























Relevant Industries

Professional Services

Legal Services

Accounting & Audit

Management Consulting

Architecture & Design

Medical Practices

Real Estate

Financial Services

Technology Services

Engineering Services

Trading & Distribution

Creative Services

Construction

Retail

Relevant Teams

Legal

Finance

Compliance

Operations

Business Development

Risk Management

Administrative

Human Resources

Client Relations

Partnership Management

Relevant Roles

Managing Partner

Senior Partner

Partner

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Company Secretary

Business Development Director

Operations Director

Finance Manager

Partnership Administrator

Compliance Officer

Risk Manager

Account Manager

Business Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Standby Trust Agreement

A Hong Kong law-governed agreement establishing a dormant trust structure that activates upon specific trigger events, detailing party obligations and trust administration procedures.

Download

Influencer Agreement

A Hong Kong law-governed contract between brands and social media influencers for content creation and promotional services.

Download

Formal Offer Letter Of Employment

A Hong Kong law-compliant formal employment offer letter outlining key employment terms and conditions between employer and prospective employee.

Download

Ending Lease Letter

A formal notice under Hong Kong law to terminate a lease agreement, specifying the termination date and arrangements for concluding the tenancy.

Download

Construction Invoice Terms And Conditions

Standard terms and conditions for construction invoicing under Hong Kong law, establishing payment processes and requirements for construction projects.

Download

3 Way Business Partnership Agreement

A Hong Kong law-governed agreement establishing a three-way business partnership, defining partners' rights, obligations, and operational framework.

Download

Change Of Working Hours Letter To Employee

A Hong Kong-compliant letter document formalizing changes to an employee's working hours and obtaining their agreement to the new arrangement.

Download

Business Agreement

A Hong Kong law-governed agreement establishing terms and conditions for commercial relationships between business entities.

Download

Simple Job Offer Letter

A concise, legally compliant job offer letter under Hong Kong law that outlines basic employment terms and conditions.

Download

Referral Letter For Work

A Hong Kong-compliant formal business letter providing professional endorsement of a candidate's qualifications and work experience for employment opportunities.

Download

Letter Of Intended Use

A formal declaration document under Hong Kong law specifying how a property, product, or service will be utilized, ensuring regulatory compliance and proper usage documentation.

Download

Non Binding LOI

A preliminary non-binding document under Hong Kong law that outlines proposed terms and conditions for a potential transaction or business relationship.

Download

Investment Contract For Small Business

A Hong Kong law-governed agreement setting out terms and conditions for investment in a small business, including investment amount, shares, rights, and protections.

Download

Managing Director Service Agreement

Hong Kong law-governed service agreement establishing employment terms and conditions for a Managing Director, including duties, compensation, and obligations.

Download

Hotel Management Contract Agreement

A Hong Kong law-governed agreement between hotel owner and management company establishing terms for hotel operation and management services.

Download

Letter Of Intent Business Collaboration

A preliminary document under Hong Kong law outlining proposed terms for business collaboration between parties, serving as a framework for future detailed agreements.

Download

Technical License Agreement

A Hong Kong law-governed agreement establishing terms for licensing technical intellectual property, including usage rights, payments, and IP protection.

Download

Letter For Overfacility

A Hong Kong law-governed document authorizing an increase in an existing credit facility, setting out terms and conditions for the additional credit extension.

Download

Individual To Individual Loan Agreement

A Hong Kong law-governed loan agreement between private individuals, setting out loan terms, repayment conditions, and mutual protections.

Download

Limited Company Invoice

A legally compliant invoice document issued by Hong Kong limited companies, conforming to local business and tax regulations.

Download

Letter Of Intent Job Offer

A preliminary employment offer document used in Hong Kong that outlines key terms and conditions of proposed employment, bridging initial discussions and formal employment contract.

Download

Commission Invoice

A Hong Kong-compliant invoice document for claiming and recording commission payments, meeting local regulatory and tax requirements.

Download

Private Land Lease Agreement

A Hong Kong law-governed agreement establishing terms and conditions for private land or property lease, detailing rights and obligations of landlord and tenant.

Download

Partnership Offer Letter

A formal letter governed by Hong Kong law extending an offer to join a partnership, outlining key terms and conditions of the proposed partnership arrangement.

Download

Domestic Letter Of Credit

A Hong Kong law-governed banking instrument that provides payment security for domestic trade transactions through a bank's irrevocable payment undertaking.

Download

Co Borrower Loan Agreement

A Hong Kong law-governed agreement establishing terms for multiple borrowers to jointly obtain and be liable for a loan from a lender.

Download

Canteen Contract Terms And Conditions

A Hong Kong law-governed agreement setting out terms and conditions for canteen operations, including operational requirements, food safety standards, and regulatory compliance.

Download

Business Ownership Transfer Letter

A formal letter under Hong Kong law documenting the transfer of business ownership between parties, including all essential terms and regulatory compliance requirements.

Download

Unilateral Release Agreement

A Hong Kong law-governed agreement where one party releases another from specific claims or liabilities, providing a legally binding waiver of rights.

Download

Three Way NDA

Hong Kong law-governed three-party NDA for protecting confidential information shared in complex business relationships.

Download

Startup Investment Term Sheet

A Hong Kong law-governed preliminary agreement outlining key terms and conditions for startup investment, serving as the basis for definitive investment documentation.

Download

Software Partner Agreement

Hong Kong-governed agreement defining the commercial and technical relationship between a software company and its business partner.

Download

Software Ownership Agreement

A Hong Kong law-governed agreement that establishes and transfers software ownership rights, including associated intellectual property and documentation.

Download

Preliminary Offer Letter

A Hong Kong law-governed document that outlines preliminary employment terms and conditions offered to a prospective employee.

Download

Preference Share Subscription Agreement

A Hong Kong law agreement governing the subscription of preference shares, detailing share rights, investment terms, and parties' obligations.

Download

Pre Marriage Financial Agreement

A Hong Kong law-governed agreement between prospective spouses defining their financial rights and obligations before marriage.

Download

Partnership Framework Agreement

A Hong Kong law-governed agreement establishing the framework and terms for a partnership arrangement between multiple parties.

Download

Partnership Contract Agreement

A Hong Kong law-governed agreement establishing the terms and conditions of a business partnership, including partner rights, obligations, and operational framework.

Download

Partnership Agreement Profit Sharing

A Hong Kong law-governed agreement establishing partnership terms and profit-sharing arrangements between partners.

Download

Partner Exit Agreement

A Hong Kong law-governed agreement detailing the terms and conditions for a partner's exit from a partnership, including financial settlements and ongoing obligations.

Download
See more related templates

骋别苍颈别鈥檚 Security Promise

Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; 骋别苍颈别鈥檚 AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it