A social contract describes the ownership structure, describes the responsibilities of the partners, sets out the provisions for the distribution of profits and losses, and contains other rules and procedures for the management of the business. It is a critical document for the joint management of a new company that ensures clear communication and clearly defined responsibilities. 19. This document shall be executed in duplicate and one copy remains in the part of the first part and the other in the part of the second part. Let`s say you`ve developed a mobile gaming app in your spare time and found a potential ABC Limited mobile gaming company you can work with. In addition, you should insert a clause that clearly states that the parties acknowledge that they have the power to retain the entities they represent in the agreement. Depending on the jurisdiction that applies to the NDA you create and sign (as an individual or on behalf of a company), you must ensure that the platform you use to sign the agreement meets local legal requirements. Unlike capital companies, the income of a partnership is taxed only once. The income is transferred to each partner, who then include the income in their personal tax return. There is therefore no double taxation. Signed and delivered for &on behalf of the unnamed part of the third party by its manager sir in the presence of . .