Partnership Agreement Article Re: Noncompetition Covenant


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									A partnership agreement sets forth the terms and conditions that govern the relationship
between business partners and their obligations to the partnership. Without a written
partnership agreement, state law may determine the default rules as to the rights of
partners and how partnership assets and liabilities will be distributed. Depending on the
goals and purposes of the partnership, various provisions can be included in the
agreement detailing the rules that will govern the relationship between the partners and
what shall occur if specific contingencies arise. This partnership agreement article on
Noncompetition of partners may be inserted into a partnership agreement and can be
modified depending on the partners’ specific needs.
                                  PARTNERSHIP AGREEMENT ARTICLE
                                   RE: NONCOMPETITION COVENANT

The Partners hereby covenant and agree that each Partner shall not engage in any activity
whatsoever (as an owner, employee, consultant or otherwise), whether or not such activity
competes with or is enhanced by the Partnership’s business and affairs, and each Partner may be
liable or accountable to the Partnership or any other Partner for any income, compensation or
profit that such Partner may derive from any such activity. Further, each Partner shall be liable
or accountable to the Partnership or any other Partner for failure to disclose or make available to
the Partnership any business opportunity that such Partner becomes aware of in such Partner’s
capacity as a Partner or otherwise.

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