Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states the (1) nature of the business, (2) capital contributed by each partner, and (3) their rights and responsibilities. … Also called agreement of partnership.
A Company Partnership Agreement is a Deed establishing a partnership between two companies.
Partnership Agreement Includes clauses covering:
- Commencement and term
- Capital, assets ,profits/losses
- Bank account
- Lawyers and Accountants
- Books and accounts
- Annual accounts
- Decisions and acts of the Partners
- Duties of the Partners
- Restrictions on Partners
- Dispute resolution
- Winding up of the Partnership
- Proper law
- Cumulative Rights
- Further Assurances
- Guarantee and Indemnity
13 pages long.
Partnership Agreement (between two companies)
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The features of a partnership agreement include setting forth the names of the individual partners that form the business; stating the purpose for which the partnership is established and the principal place of business; outlining the amount of money each partner invests in the enterprise; and establishing directives …