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Simple Partnership Agreement Template for Belgium

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Key Requirements PROMPT example:

Simple Partnership Agreement

"I need a Simple Partnership Agreement for three IT consultants forming a partnership in Brussels, starting March 2025, with equal profit sharing and specific provisions for intellectual property rights and client confidentiality."

Document background
The Simple Partnership Agreement is a fundamental legal document used in Belgium to establish straightforward business partnerships without creating a separate legal entity. This type of agreement is particularly suitable for professional collaborations, small business ventures, and joint projects where partners wish to maintain flexibility while formalizing their business relationship. The document, governed by Belgian law and specifically the Belgian Code of Companies and Associations, covers essential aspects such as partner contributions, profit-sharing, management structure, and decision-making processes. It's commonly used by professionals, entrepreneurs, and small business owners who want to combine resources and expertise without the complexity and formal requirements of incorporating a company. The agreement provides a clear framework for partnership operations while allowing partners to maintain their individual tax status and business identity.
Suggested Sections

1. Parties: Identification and details of all partners entering into the partnership agreement

2. Background: Context of the partnership formation and partners' intentions

3. Definitions: Definitions of key terms used throughout the agreement

4. Formation and Name: Declaration of partnership formation, partnership name, and effective date

5. Purpose and Business: Detailed description of partnership's business activities and objectives

6. Duration: Term of the partnership (definite or indefinite)

7. Capital Contributions: Details of initial and any agreed future capital contributions by partners

8. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners

9. Management and Decision Making: Partnership management structure and decision-making processes

10. Partners' Rights and Obligations: Detailed rights and responsibilities of all partners

11. Banking and Financial Matters: Banking arrangements and financial management procedures

12. Accounting and Records: Requirements for maintaining partnership accounts and records

13. Transfer of Partnership Interest: Rules governing the transfer of partnership interests

14. Withdrawal and Retirement: Procedures for partner withdrawal or retirement

15. Dissolution and Liquidation: Circumstances and procedures for partnership dissolution

16. Governing Law: Confirmation of Belgian law as governing law

17. Dispute Resolution: Procedures for resolving disputes between partners

Optional Sections

1. Non-Competition: Restrictions on partners competing with partnership business - include when partners have other business interests

2. Intellectual Property: IP ownership and usage rights - include when partnership involves creation or use of IP

3. Confidentiality: Protection of partnership's confidential information - important for partnerships with sensitive information

4. Death of Partner: Procedures following death of a partner - particularly important for family partnerships

5. Additional Capital Contributions: Procedures for requesting and making additional capital contributions - include for partnerships likely to need future funding

6. Partnership Property: Specific provisions regarding ownership and use of partnership property - include when partnership owns significant assets

7. Insurance: Requirements for partnership insurance - include when business activities require specific insurance coverage

Suggested Schedules

1. Schedule 1 - Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions

2. Schedule 2 - Business Plan: Initial business plan and objectives of the partnership

3. Schedule 3 - Management Procedures: Detailed procedures for day-to-day management and decision-making

4. Schedule 4 - Accounting Policies: Specific accounting policies and procedures to be followed

5. Schedule 5 - Partner Contact Details: Full contact details and addresses for service for all partners

6. Appendix A - Form of Partnership Resolution: Template for formal partnership resolutions

7. Appendix B - Bank Mandate: Banking arrangements and authorized signatories

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

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Relevant Industries

Professional Services

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Relevant Teams

Legal

Finance

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Compliance

Risk Management

Corporate Governance

Business Strategy

Administrative Support

Relevant Roles

Business Owner

Managing Partner

Entrepreneur

Legal Counsel

Business Development Manager

Financial Director

Operations Manager

Professional Service Provider

Project Manager

Risk Manager

Compliance Officer

Partnership Manager

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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