The Limited Company Partnership Agreement is essential when two or more limited companies in Singapore wish to form a formal partnership while maintaining their separate legal identities. This document is crucial for establishing clear operational frameworks, defining management responsibilities, and protecting each partner's interests. Under Singapore law, this agreement must comply with both the Companies Act and Partnership Act, making it distinct from traditional partnership agreements. It typically includes detailed provisions for capital contributions, profit sharing, decision-making processes, and dispute resolution mechanisms.
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Key Requirements PROMPT example:
Limited Company Partnership Agreement
"I need a Limited Company Partnership Agreement for a technology joint venture between my Singapore software company and a Malaysian hardware manufacturer, with specific provisions for IP sharing and an expected commencement date of March 2025."
1. Parties: Identification and details of all partners and the company
2. Background: Context and purpose of the partnership agreement
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal structure, ownership percentages, and capital contributions
5. Management Rights: Decision-making processes and voting rights
6. Financial Provisions: Profit sharing, losses, and capital accounts
7. Term and Termination: Duration and conditions for ending the partnership
1. Non-Competition: Restrictions on competitive activities (used when partners may have competing interests)
2. Intellectual Property: IP ownership and usage rights (used when IP is significant to the business)
3. International Operations: Cross-border business provisions (used for partnerships with international activities)
1. Capital Contributions Schedule: Detailed breakdown of partner contributions
2. Business Plan: Initial business strategy and objectives
3. Partner Information: Detailed information about each partner
4. Asset Register: List of partnership assets and their ownership
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