tiktok���˰�

The 51 49 Partnership Agreement is a strategic legal instrument used in India when two parties wish to form a business partnership with a clear majority control structure. This document is particularly relevant when partners want to combine resources, expertise, or market access while maintaining definitive control with one party. The agreement must comply with the Indian Partnership Act, 1932, and other relevant Indian legislation, including foreign investment regulations if applicable. It typically includes comprehensive provisions for capital contribution, profit sharing, management rights, operational control, and exit mechanisms. This structure is commonly used in joint ventures, strategic alliances, and business expansions where maintaining clear control is crucial while still offering significant stake to the minority partner.

1. Parties: Identification of all partners with complete details including addresses and registration information

2. Background: Context of the partnership formation and brief description of the business purpose

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

4. Partnership Structure: Details of 51-49 ownership split, capital contributions, and partnership interests

5. Business of the Partnership: Detailed description of the partnership's business activities and scope

6. Capital Contributions: Specific amounts, timing, and nature of capital contributions by each partner

7. Profit and Loss Sharing: Distribution of profits and losses, including dividend policy and reinvestment provisions

8. Management and Control: Decision-making process, voting rights, and day-to-day management responsibilities

9. Partner Rights and Obligations: Detailed rights and duties of each partner, including non-compete and confidentiality obligations

10. Meetings and Resolutions: Procedures for partner meetings, voting mechanisms, and resolution passing

11. Books and Records: Maintenance of financial records, audit rights, and reporting requirements

12. Transfer of Partnership Interest: Rules and restrictions on transferring partnership interests, including right of first refusal

13. Term and Termination: Duration of partnership and conditions for termination

14. Dispute Resolution: Process for resolving disputes between partners

15. Governing Law: Specification of Indian law as governing law and jurisdiction