How many partners are there?

The Cleardocs Partnership Agreement is suitable only if there are up to 20 partners. If you need advice about a Partnership Agreement for more than 20 partners, then please ring us on 1300 307 343. We will arrange for you to speak to our lawyers at Maddocks. They will speak with you for free for 5 minutes or so about what you need to do.

Other combination of individuals or companies (or both) to be a partner?

If you would like any other combination of individuals or companies (or both) to be a partner, then Maddocks advises that you should consider using a company as the partner. That way you can have the company controlled (through directorships and shareholdings) by the people you wish to make up the partner. This works more efficiently because the rules about how the company is to make decisions are set out in the company's constitution and in the corporations law. You can set up the company through Cleardocs — and register the company with ASIC electronically. The whole process takes only 20 minutes or so — and you get the ACN instantly. A company through Cleardocs costs $563.50 (including ASIC fees of $426 and GST).

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

Who does this partner wish to appoint as nominee to act on its behalf in relation to the Partnership?

The Nominee plays an important role in the administration of the Partnership. In particular:

• the Nominee can make decisions on behalf of the Partner; and
• if the Nominee suffers an Insolvency Event (as that term is described in the Partnership Agreement), then that Partner's interest in the Partnership can be bought by the other Partners; and
• if the Nominee dies or becomes permanently disabled or incapacitated, then that Partner's interest can be bought by the remaining Partners.

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

How many individuals make up this joint trustee individual partner?

You may have up to three people here. Although the law allows other structures, Maddocks advises that any other structure is likely to complicate administration of the partnership.

If you would like any other combination to be the trustees, then Maddocks advises that you should consider using a company as the trustee. That way you can have the company controlled (through directorships and shareholdings) by the people you wish to be the trustees. This works more efficiently because the rules about how the company is to make decisions are set out in the company's constitution and in the corporations law. You can set up the company through Cleardocs — and register the company with ASIC electronically. The whole process takes only 20 minutes or so — and you get the ACN instantly. A company through Cleardocs costs $563.50 (including ASIC fees of $426 and GST).

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.