Download this Partnership Agreement to manage and operate a business with a partner in order to make a profit.
Word Document (.docx)
Ready to use legal template
Drafted by experienced lawyers
Compliant with Singapore law
Ready to use legal template
Compliant with Singapore law
It is then strongly recommended to draft a partnership agreement whose clauses allow you to protect your activity. Indeed, partnership agreements can present risks of all kinds, disclosure of confidential data, business strategies or others. The partnership agreement is defined as the agreement that binds professionals in order to expose to the customers of each party the services of the parties in exchange for a commission, or to put in common certain production equipment, or to share information, methods, or inventions. This type of contract has many advantages in terms of business growth.
Legally, a partnership agreement is called an innominate contract, which means that it is not governed by any legal text, i.e. there is no legal provision prescribing which mention must appear in the agreement. Nevertheless, during the execution, the obligations of the parties are subject to Singaporean law. The parties therefore remain relatively free in the drafting of their agreement, the only limit being the respect of public policy. Obviously, the agreement cannot cover illegal elements. The concrete provisions of a partnership agreement are based on the following elements:
| ➤ The duration of the partnership |
| ➤ What the promotion is about, what type of information will be promoted? |
| ➤ A reminder of the general behavior that the parties must adopt during the execution of the agreement (mutual respect, good faith etc.) |
| ➤ The amount of the commission |
| ➤ The extent of confidentiality |
| ➤ The prevention of any dispute (arbitration clause, choice of court clause) |
