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Memorandum Of Agreement For Partnership
"I need a Memorandum Of Agreement For Partnership for a new tech consulting firm in Singapore with three equal partners, where we'll each contribute SGD 50,000 initially and share profits equally, starting operations in March 2025."
1. Parties: Identification and details of all partnership parties
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 and Decision Making: Governance structure and voting rights
6. Financial Arrangements: Profit sharing, losses, and accounting procedures
7. Duration and Termination: Partnership term and dissolution procedures
1. Non-Competition: Restrictions on competitive activities by partners and protection of business interests
2. Intellectual Property: IP ownership, usage rights, and protection measures for partnership assets
3. Insurance: Required insurance coverage and risk management provisions
4. Dispute Resolution: Procedures for resolving disagreements and conflicts between partners
1. Capital Contributions Schedule: Detailed breakdown of initial and ongoing capital contributions from each partner
2. Business Plan: Partnership's strategic plan, objectives, and operational framework
3. Asset Register: Comprehensive list of partnership assets and their ownership status
4. Partner Responsibilities: Detailed outline of roles, duties, and responsibilities of each partner
5. Profit Sharing Formula: Detailed calculation method and terms for profit distribution among partners
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