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This 50-50 Partnership Agreement is essential for businesses in India where two partners wish to establish an equal partnership with shared control and identical profit-sharing ratios. The document is primarily used when forming new partnerships or restructuring existing ones to ensure equal rights and responsibilities between partners. It complies with the Indian Partnership Act, 1932, and other relevant Indian legislation, making it suitable for businesses operating within Indian jurisdiction. The agreement covers crucial aspects such as capital contribution, profit-loss sharing, management rights, decision-making processes, and dissolution procedures, all structured to maintain perfect equality between partners. It's particularly valuable for small to medium-sized businesses, professional services firms, and family businesses where equal partnership is desired.

1. Parties: Details of the partners entering into the agreement, including full names, addresses, and contact information

2. Background: Context of the partnership formation and brief description of the business purpose

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

4. Partnership Name and Business: Official name of the partnership and nature of business activities

5. Term and Commencement: Duration of partnership and effective date

6. Capital Contribution: Initial capital contribution by each partner and terms for additional contributions

7. Profit and Loss Sharing: 50-50 division of profits and losses between partners

8. Management and Decision Making: Partners' roles, responsibilities, and decision-making processes

9. Banking and Financial Matters: Banking arrangements, signing authorities, and financial management procedures

10. Books of Account: Maintenance of accounts, audit requirements, and access to financial records

11. Rights and Obligations: Detailed rights and duties of partners

12. Restrictions on Partners: Non-compete and other restrictive covenants

13. Termination: Circumstances and procedures for partnership termination

14. Dissolution: Process for dissolving the partnership and asset distribution

15. Governing Law: Specification of Indian law as governing law and jurisdiction