Partnership Articles of Association are essential when establishing a partnership business in Singapore. This document serves as the constitutional framework for the partnership, defining how the business will operate and how partners will interact. It is particularly crucial for businesses seeking to formalize their structure while maintaining flexibility compared to a corporate entity. The articles must align with Singapore's Partnership Act and include detailed provisions about capital contributions, profit sharing, management rights, and dispute resolution mechanisms. This document is fundamental for protecting partners' interests and ensuring smooth business operations.
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1. Parties: Details of all partners entering into the partnership
2. Background: Context and purpose of forming the partnership
3. Definitions: Key terms used throughout the articles
4. Partnership Name and Business: Official name and nature of business
5. Capital Contributions: Initial and ongoing capital requirements
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management Structure: Governance and decision-making processes
8. Partner Rights and Obligations: Duties and responsibilities of partners
9. Duration and Termination: Term of partnership and dissolution procedures
1. Non-Competition: Restrictions on competing activities during and after partnership
2. Intellectual Property Rights: Ownership and use of IP in the partnership
3. International Operations: Rules and procedures for overseas business operations
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial contribution
2. Schedule 2: Profit Sharing Ratios: Specific percentages for profit distribution
3. Schedule 3: Management Responsibilities: Detailed roles and responsibilities of managing partners
4. Appendix A: Business Plan: Initial business plan and strategy
5. Appendix B: Partner Details: Complete information about each partner including contact details
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