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Agreement Between Two Parties For Business Partnership Template for Singapore

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Key Requirements PROMPT example:

Agreement Between Two Parties For Business Partnership

"I need an Agreement Between Two Parties For Business Partnership to establish a technology consulting firm in Singapore with my business partner, where I will contribute 60% of the capital and want primary decision-making authority, starting from March 2025."

What is a Agreement Between Two Parties For Business Partnership?

An Agreement Between Two Parties For Business Partnership is essential when two parties wish to formalize their business relationship in Singapore. This document is crucial for establishing clear terms of partnership, protecting both parties' interests, and ensuring compliance with Singapore's Partnership Act and related regulations. It typically includes provisions for capital contributions, profit sharing, management structure, dispute resolution, and termination procedures. The agreement should be tailored to specific business needs while adhering to Singapore's legal framework.

What sections should be included in a Agreement Between Two Parties For Business Partnership?

1. Parties: Identification and details of the partnering parties

2. Background: Context and purpose of the partnership

3. Definitions: Key terms used throughout the agreement

4. Partnership Structure: Legal structure, ownership percentages, and capital contributions

5. Management and Control: Decision-making processes and management responsibilities

6. Financial Arrangements: Profit sharing, losses, accounting practices

7. Term and Termination: Duration and conditions for ending the partnership

8. Governing Law: Applicable law and jurisdiction

What sections are optional to include in a Agreement Between Two Parties For Business Partnership?

1. Non-Compete: Restrictions on competing activities - used when partners want to protect business interests

2. Intellectual Property: IP ownership and usage rights - used when IP is involved in the business

3. Insurance: Required insurance coverage - used for high-risk businesses or specific industry requirements

4. Dispute Resolution: Process for resolving disagreements - used when parties want specific dispute resolution mechanisms

What schedules should be included in a Agreement Between Two Parties For Business Partnership?

1. Capital Contributions Schedule: Detailed breakdown of initial and ongoing capital contributions

2. Business Plan: Detailed business strategy and objectives

3. Asset Register: List of partnership assets and their values

4. Partner Responsibilities: Detailed outline of each partner's roles and duties

5. Financial Procedures: Detailed accounting and financial management procedures

Authors

Alex Denne

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

Relevant legal definitions






































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Industries

Partnership Act (Chapter 391): Core legislation that defines partnerships, governs their formation, outlines rights and duties of partners, and regulates partnership dissolution in Singapore

Business Names Registration Act 2014: Legislation governing requirements for business registration and rules about business names and their usage in Singapore

Companies Act (Chapter 50): Relevant legislation if the partnership might evolve into a company, including corporate governance requirements

Contract Law: Common law principles governing formation of contracts, contractual obligations and rights, and remedies for breach of contract

Income Tax Act: Tax legislation outlining tax obligations for partnerships and partners' individual tax responsibilities

Goods and Services Tax Act: Legislation governing GST registration requirements and related tax obligations for businesses

Employment Act: Law governing employment relationships if the partnership will have employees, including employment obligations and rights

Personal Data Protection Act 2012: Legislation governing the handling of personal/customer data and privacy requirements in Singapore

Competition Act: Law governing anti-competitive practices and fair trading requirements in Singapore

Industry-Specific Regulations: Various sector-specific regulations, licenses, and permits depending on the business sector of operation

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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