The LLC Business Partnership Agreement is a fouNDAtional document used when establishing or restructuring a limited liability partnership in Singapore. This agreement is essential for businesses seeking to formalize their partnership structure while benefiting from limited liability protection under Singapore law. It comprehensively addresses capital contributions, profit sharing, management rights, decision-making processes, and exit strategies. The document ensures compliance with Singapore's Limited Liability Partnerships Act 2005 and provides a clear framework for partnership operations and dispute resolution.
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1. Parties: Identification and details of all partners entering into the agreement
2. Background: Context and purpose of the partnership, including business objectives
3. Definitions: Key terms and their meanings used tHRoughout the agreement
4. Partnership Structure: Legal form, ownership percentages, and capital contributions of the partnership
5. Management and Decision Making: Governance structure, voting rights, and management procedures
6. Capital and Profits: Financial arrangements, capital contributions, and profit distribution mechanisms
7. Partners' Duties and Obligations: Responsibilities, commitments, and obligations of all partners
8. Term and Termination: Duration of partnership and conditions for termination or dissolution
9. Dispute Resolution: Process and procedures for resolving conflicts between partners
1. Non-Compete Provisions: Restrictions on competitive activities and protection of business interests
2. Intellectual Property Rights: Ownership, use, and protection of intellectual property assets
3. Insurance Requirements: Required insurance coverage and liability protection measures
4. International Operations: Provisions governing cross-border business activities and compliance
1. Schedule 1: Capital Contributions: Detailed breakdown of initial and subsequent capital contributions by partners
2. Schedule 2: Business Plan: Initial business plan, strategy, and operational framework
3. Schedule 3: Partner Information: Detailed information and documentation about each partner
4. Schedule 4: Company Assets: Comprehensive list of partnership assets and their ownership details
5. Appendix A: Profit Sharing Formula: Detailed calculation method and terms for profit distribution among partners
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