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Partnership Deed
A Partnership deed is one of the easiest forms of incorporating a company with more than one owners. It gives you the right to get your company registered and operate it according to the purpose and way of operation decided mutually. We highly recommend getting a partnership deed signed before getting into business operations with a business partner.
We have established this fact that a partnership deed is one of the most important documents in case any dispute arises among business partners. There are various inclusions in a partnership deed that must be present to make it an effective one.
Inclusions Of A Partnership Deed
- The first and the foremost thing in a partnership deed is that it must clearly define the nature of the business and what exactly will it be.
- The partnership deed must clearly define the duration of the partnership.
- It must clearly define the ownership percentage of each partner. It is necessary to calculate the division of profit or loss in a company.
- It must clearly ascertain the salary and commission that each partner would be drawing from the business.
- It is very important to decide before starting the business about the capital contribution by each partner. The scope of probable future capital contribution must also be thought of and defined in the agreement.
- Possibilities of a business taking a loan are always there. Therefore it must be clearly defined the scope of a business loan and this must be clearly conveyed to each partner.
- The duties and obligations of each partner must be clearly stated. It is important for each partner to honour the duties agreed at the time of signing of the document.
- There must be some information available in the agreement about unforeseen circumstances such as the death or retirement of a partner.
Why Choose Us
We have vast experience with all kind of company incorporations. We have prepared hundreds of partnership deeds and joint ventures for various companies and individuals.
Additional Benefits
We will make sure to provide you with additional insightful recommendations to grow your company. As we are aware of different practices in all industries, we will make you aware of good practices which will increase the productivity and efficiency of your business and will take it to new Heights.
