Basic Identification and Business Details
These clauses establish the identity and framework of the partnership.

• Name and address of the partnership firm
  
• Names and addresses of all partners
  
• Date of commencement of the partnership
  
• Nature and scope of the business activity
  
• Duration of the partnership (fixed term or at will)
  

Capital Contribution and Profit Sharing
These terms define the financial relationship and entitlements among partners.

• Capital contributed by each partner (fixed or variable)
  
• Profit and loss sharing ratio
  
• Rules for additional capital or withdrawal of capital
  
• Interest on capital and drawings, if any
  
• Maintenance of capital and current accounts
  

Roles, Duties, and Powers of Partners
These clauses outline the day-to-day roles, authority, and obligations of each partner.

• Roles and responsibilities of each partner
  
• Authority to make decisions or enter into contracts
  
• Provisions for working partners’ salary or remuneration
  
• Restrictions on partners (non-compete, confidentiality, etc.)
  
• Guidelines for admitting or removing partners
  

Dispute Resolution and Exit Terms
These clauses handle conflicts and exit scenarios in a structured and legal way.

• Procedure for resolving disputes (e.g., arbitration, court)
  
• Retirement, resignation, or expulsion of a partner
  
• Handling the death or insolvency of a partner
  
• Buyout rights and settlement of accounts
  
• Rights and liabilities of continuing partners
  

Dissolution and Winding-Up Procedures
These terms define how the firm will close or wind up its affairs legally.

• Conditions under which the firm may be dissolved
  
• Process for liquidation of assets and payment of liabilities
  
• Distribution of remaining assets among partners
  
• Notice period for dissolution (if at will)
  
• Public notice requirement for legal protection
  

Additional Clauses (Optional but Recommended)
While not mandatory, these enhance clarity and operational control.

• Banking authority and cheque signing rights
  
• Audit and financial reporting procedures
  
• Insurance, indemnity, or liability clauses
  
• Rules for amendments to the deed
  

Jurisdiction clause for legal proceedings