3. The commercial activity of the partnership (hereafter referred to as ”company”) consists of the manufacture, purchase and sale of the products on the list, using the patent rights acquired by the party in The First Part 1. The parties agree to continue the business activities mentioned below, in partnership, on the conditions set out below, in the name and style of M/s………………. And while, in the present circumstances, the parties have met and decided to do business in partnership to exploit it, the aforementioned patent has been granted as far as possible in the interests of all under the following conditions. 26. If a partner resigns from the company, he or she is not permitted to engage in the same activity or activity as the company within a two-kilometre radius of the company`s office and for a period of two years from the date of retirement, and he cannot carry out activities in the same name as that of the company. until the partnership is completely dissolved and dissolved. 8. The third party agrees to allow the partnership to use the premises of the third party`s factory, which is being set up in … And for whom the partnership is a nominal rent of Rs… Monthly. The party of the third part will also provide the use of the machines.
Electrical power and other amenities available for the manufacture of these products. h. lend money for or on behalf of the business or create guarantees or fees for the company`s assets. 25. If one party wishing to withdraw from the business wishes to terminate the other party at least three months before and after the notice period has expired, the party is considered to have retired. No one has the right to dissolve the partnership. 2. The partnership begins with the … On the day of the…
And by the time of the partnership, he`ll be with Will. e. enter into a unilateral partnership or any other business with another person. (4) The Partnership Office has… Contracting parties may open branches in other locations where an agreement can be reached. 20. All tangible and intangible assets of the company, including value, trade and commerce, the benefit of licences and commercial licences, the benefits of registered contracts, etc., are equally owned by the parties and the ownership of the business is used by the parties exclusively for the business. The rights of the part of the first part relating to the said patent will continue to belong to that contracting party and the company will give it the rights of the user in respect of it during the stay of the partnership. 6. The party to the first party agrees to make available to the partnership a formal license for the use and use of that patent and to grant it a formal license.
With all the plans. Models and designs relating to the livelihoods of the partnership and the licence are not resilient as long as the business continues, whether or not the part of the first part is a partner. 14. The company`s net profits and losses are distributed equally or proportionally by the parties. This year`s net income, less the expenses of the company`s management, including the rent of the company premises, means outflows with respect to staff salaries, administrative expenses, commission to others and all other expenses related to the business and expenses that can be deducted under the Income Tax Act, 1961. The share of profits and losses of the part of the second part of the company will belong to each partner of the contracting party in the same proportion as that expected during the celebration of the partnership of the part of the second part.