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Memorandum Of Agreement For Partnership
"I need a Memorandum of Agreement for Partnership for a Dubai-based consulting firm where three partners will contribute equal capital of AED 500,000 each, with specific provisions for profit sharing based on both capital contribution and active involvement in the business starting March 2025."
1. Parties: Identification of all partners, including full legal names, addresses, and registration details for corporate entities
2. Background: Context of the partnership formation, including the business purpose and intentions of the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Structure: Legal form of partnership, ownership percentages, and capital contributions
5. Business Scope: Detailed description of partnership's business activities and objectives
6. Capital and Financing: Details of initial and subsequent capital contributions, funding mechanisms, and profit/loss sharing ratios
7. Management and Control: Governance structure, decision-making processes, and partner responsibilities
8. Partner Rights and Obligations: Detailed rights and duties of each partner
9. Financial Matters: Accounting procedures, distribution of profits, handling of losses, and banking arrangements
10. Term and Termination: Duration of partnership and circumstances for termination
11. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for dispute resolution
12. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Non-Competition: Restrictions on partners engaging in competing businesses - used when partners have other business interests
2. Intellectual Property Rights: IP ownership and usage rights - included when the partnership involves creation or use of intellectual property
3. Employee Matters: Guidelines for hiring, managing employees - relevant for partnerships planning to hire staff
4. Insurance: Required insurance coverage - important for high-risk business activities
5. Exit Strategy: Detailed procedures for partner exit - useful for larger partnerships or those with complex ownership structures
6. Force Majeure: Provisions for unforeseen circumstances - particularly relevant post-COVID
7. Confidentiality: Protection of partnership's confidential information - essential when dealing with sensitive information or trade secrets
1. Schedule 1 - Capital Contributions: Detailed breakdown of each partner's initial and committed capital contributions
2. Schedule 2 - Business Plan: Initial business plan and strategic objectives
3. Schedule 3 - Partner Information: Detailed information about each partner, including contact details and representatives
4. Schedule 4 - Profit Distribution Policy: Detailed methodology for calculating and distributing profits
5. Schedule 5 - Management Structure: Organizational chart and management responsibilities
6. Appendix A - Required Licenses: List of required licenses and permits for operation
7. Appendix B - Bank Account Details: Partnership's banking information and authorized signatories
Authors
Real Estate Development
Professional Services
Trading & Distribution
Manufacturing
Technology & Digital Services
Healthcare
Hospitality & Tourism
Construction & Engineering
Retail
Financial Services
Consulting Services
Education
Legal
Corporate Affairs
Finance
Executive Leadership
Business Development
Operations
Compliance
Risk Management
Strategy
Corporate Governance
Chief Executive Officer
Managing Director
Business Development Director
Legal Counsel
Chief Financial Officer
Operations Director
Company Secretary
Partnership Manager
Investment Director
Corporate Lawyer
Business Owner
Compliance Officer
Risk Manager
Strategy Director
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