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Business Partnership Separation Agreement
I need a Business Partnership Separation Agreement for a two-partner accounting firm in Sydney, where one partner is retiring effective March 1, 2025, and we need to address the division of a client base of approximately 200 clients and the transfer of partnership property including office lease and equipment.
1. Parties: Identification and details of all partners involved in the separation
2. Background: History of the partnership, reason for separation, and context of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Effective Date: The date when the separation becomes effective
5. Dissolution Terms: General terms and conditions of the partnership dissolution
6. Asset Division: Detailed breakdown of how partnership assets will be divided
7. Liability Allocation: Distribution of existing liabilities and debts among partners
8. Financial Settlement: Terms of financial settlements between partners, including any buyout arrangements
9. Client and Contract Management: Handling of existing clients, contracts, and ongoing business relationships
10. Intellectual Property Rights: Division and future usage rights of partnership IP
11. Confidentiality: Ongoing obligations regarding confidential information
12. Non-Compete and Non-Solicitation: Restrictions on future business activities and client engagement
13. Dispute Resolution: Process for resolving any disputes arising from the separation
14. General Provisions: Standard legal provisions including governing law, entire agreement, and amendments
15. Execution: Signature blocks and execution requirements
1. Ongoing Business Operations: Required when one partner continues the business - details transition arrangements
2. Employee Management: Include when the partnership has employees - covers staff allocation and employment arrangements
3. Property Leases: Necessary when partnership holds lease agreements - details transfer or termination of leases
4. Insurance Matters: Include when dealing with existing insurance policies and future coverage
5. Tax Indemnification: Add when complex tax implications exist - details tax liability allocation
6. Future Cooperation: Include when partners need to cooperate post-separation (e.g., for transitioning clients)
7. Social Media and Online Presence: Required when partnership has significant digital assets or online presence
8. Professional Licenses: Include for partnerships involving professional practices or licensed activities
1. Schedule A - Asset Register: Complete inventory of partnership assets and their agreed values
2. Schedule B - Liability Register: List of all partnership debts and liabilities
3. Schedule C - Client List: Comprehensive list of clients and their allocation between partners
4. Schedule D - Intellectual Property Register: Detailed listing of all IP owned by the partnership
5. Schedule E - Financial Statements: Recent financial statements and account balances
6. Schedule F - Payment Schedule: Timeline and terms for any financial settlements between partners
7. Appendix 1 - Valuation Reports: Independent valuations of business assets or the overall business
8. Appendix 2 - Transition Plan: Detailed plan for implementing the separation arrangements
Authors
Professional Services
Retail
Hospitality
Construction
Healthcare
Real Estate
Technology
Manufacturing
Consulting
Agriculture
Legal Services
Accounting Services
Creative Industries
Engineering
Legal
Finance
Operations
Compliance
Risk Management
Corporate Affairs
Business Development
Executive Leadership
Administration
Business Owner
Managing Partner
General Partner
Company Director
Business Manager
Legal Counsel
Corporate Lawyer
Business Development Manager
Operations Manager
Financial Controller
Chief Executive Officer
Chief Financial Officer
Partnership Manager
Risk Manager
Compliance Officer
Find the exact document you need
Business Partnership Separation Agreement
An Australian law-governed agreement that formalizes the dissolution of a business partnership and outlines the terms of separation between partners.
Contract Dissolution Agreement
An Australian law-governed agreement that formally terminates an existing contract between parties, settling all obligations and providing mutual releases.
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