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50 50 Partnership Agreement Template for Austria

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Key Requirements PROMPT example:

50 50 Partnership Agreement

"I need a 50-50 Partnership Agreement under Austrian law for a technology consulting firm, with specific provisions for intellectual property protection and client confidentiality, to be effective from March 1, 2025."

Document background
The 50-50 Partnership Agreement is essential for businesses in Austria where two parties wish to establish an equal partnership with shared control and responsibilities. This document is particularly relevant when partners want to formalize their business relationship while maintaining equal decision-making rights and profit sharing. It is structured in accordance with Austrian law, particularly the Unternehmensgesetzbuch (UGB) and related commercial legislation, making it suitable for various business ventures from professional services to trading companies. The agreement typically includes comprehensive provisions for partnership management, capital contributions, profit distribution, dispute resolution, and exit mechanisms, with special attention to deadlock prevention and resolution given the equal ownership structure. It serves as both a foundational document for the partnership and a reference point for ongoing business operations, making it crucial for partners to carefully consider and customize all provisions to their specific needs while ensuring compliance with Austrian legal requirements.
Suggested Sections

1. Parties: Identification and details of the two partners entering into the 50-50 partnership

2. Background: Context of the partnership formation and partners' intention to establish an equal partnership

3. Definitions: Key terms used throughout the agreement

4. Partnership Formation: Establishment of the partnership, its name, registration details, and commencement date

5. Business Purpose: Defined scope and objectives of the partnership business

6. Capital Contributions: Initial and ongoing capital contributions from each partner, maintaining the 50-50 ratio

7. Profit and Loss Sharing: Equal distribution of profits and losses between partners

8. Management and Decision Making: Management structure, voting rights, and decision-making processes including deadlock resolution

9. Partners' Duties and Obligations: Responsibilities, commitments, and expectations of each partner

10. Banking and Financial Matters: Banking arrangements, accounting practices, and financial management

11. Transfer of Partnership Interest: Restrictions and procedures for transferring partnership interests

12. Term and Termination: Duration of partnership and circumstances for termination

13. Dissolution and Liquidation: Procedures for winding up the partnership and asset distribution

14. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction

15. General Provisions: Standard legal provisions including notices, amendments, and severability

Optional Sections

1. Non-Competition and Non-Solicitation: Restrictions on partners competing with the partnership or soliciting employees/clients, used when intellectual property or client relationships are crucial

2. Intellectual Property Rights: Ownership and management of IP created during the partnership, important for knowledge-based businesses

3. Insurance: Required insurance coverage and responsibilities, relevant for high-risk businesses

4. Alternative Dispute Resolution: Mediation or arbitration procedures, useful for partners wanting to avoid court proceedings

5. Good/Bad Leaver Provisions: Consequences of voluntary or forced partner departure, important for professional service partnerships

6. Partnership Expansion: Procedures for admitting new partners, useful if future growth is anticipated

7. Business Continuation: Procedures in case of death or incapacity of a partner, important for family businesses or professional partnerships

Suggested Schedules

1. Schedule 1: Initial Capital Contributions: Detailed list of cash, assets, or services contributed by each partner

2. Schedule 2: Business Plan: Initial business plan and strategic objectives

3. Schedule 3: Partner Contact Details: Complete contact information and notice details for each partner

4. Schedule 4: Banking Arrangements: Details of partnership bank accounts and authorized signatories

5. Schedule 5: Accounting Policies: Agreed accounting principles and practices

6. Appendix A: Partnership Registration Documents: Copies of official registration documents and licenses

7. Appendix B: Asset Inventory: Detailed inventory of partnership assets and their agreed values

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


















































Clauses













































Relevant Industries

Professional Services

Retail

Manufacturing

Technology

Real Estate

Hospitality

Construction

Healthcare

Consulting

E-commerce

Agriculture

Creative Industries

Financial Services

Education

Relevant Teams

Legal

Corporate Development

Finance

Operations

Risk & Compliance

Business Development

Strategy

Corporate Governance

Investment

Partnership Management

Relevant Roles

Business Owner

Managing Director

CEO

Legal Counsel

Corporate Lawyer

Business Development Manager

Partnership Manager

Chief Financial Officer

Operations Director

Company Secretary

Risk Manager

Compliance Officer

Investment Manager

Professional Service Provider

Entrepreneur

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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