Partnership Agreement - Two

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This Partnership Agreement should be used for a number of parties entering into a business arrangement with a view to sharing profits. It does not contain any provisions for the partnership to continue if one or more of the partners leave.

Key clauses in this agreement include:

Description of business.

Details of the partnership name.

Complete definition of partnership assets, including customer data and goodwill.

Details of accountants, bank and premises.

Details of each partner's duties and responsibilities to the other partners.

Restrictions on a partner's authority.

Capital and income distribution.

Holiday entitlement for partners.

Retirement of a partner.

Expulsion of a partner.

Termination of the partnership.

Disputes to be settled by arbitration.

Please note that this agreement provides for up to 4 partners, however more can be added to the resulting document as required.