Document background
The Partnership Separation Agreement is a critical document used when business partners decide to end their professional relationship and separate their business interests. This document becomes necessary when partners choose to dissolve their partnership due to various reasons such as retirement, diverging business objectives, personal circumstances, or strategic decisions. Under Indonesian law, particularly the Civil Code (KUHPerdata) and Commercial Code (KUHD), this agreement must address specific legal requirements for partnership dissolution while protecting all parties' interests. The document typically includes detailed provisions for asset division, liability allocation, client relationships, intellectual property rights, and ongoing obligations. It also ensures compliance with local tax regulations, employment laws, and business registration requirements. The Partnership Separation Agreement serves as both a roadmap for the separation process and a legally binding document that can prevent future disputes by clearly defining each party's rights and responsibilities during and after the separation.
