The Restaurant Partnership Agreement is a critical legal document used when two or more parties wish to establish and operate a restaurant business together in New Zealand. This agreement is essential for defining the fundamental aspects of the business relationship, including capital contributions, profit sharing, management responsibilities, and operational procedures. It ensures compliance with New Zealand's legal framework, particularly the Partnership Act 1908, Food Act 2014, and relevant hospitality industry regulations. The document is suitable for new restaurant ventures, existing restaurant restructuring, or when new partners join an established restaurant business. It includes comprehensive provisions for business operations, dispute resolution, partner exits, and succession planning, while addressing specific requirements of the food service industry such as licensing, food safety compliance, and staff management.
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1. Parties: Identifies and provides full details of all partners entering into the agreement
2. Background: Outlines the context of the partnership and the partners' intention to operate a restaurant business together
3. Definitions: Defines key terms used throughout the agreement
4. Partnership Structure: Details the nature of the partnership, ownership percentages, and capital contributions
5. Management and Control: Establishes management structure, decision-making processes, and voting rights
6. Financial Arrangements: Covers profit sharing, loss allocation, accounting practices, and banking arrangements
7. Operational Responsibilities: Defines each partner's roles, duties, and responsibilities in running the restaurant
8. Restaurant Premises: Details regarding the restaurant location, lease arrangements, and property management
9. Staff and Employment: Framework for hiring, managing, and terminating employees
10. Intellectual Property: Protection and usage of restaurant name, logo, recipes, and other IP
11. Insurance and Liability: Required insurance coverage and allocation of liabilities
12. Term and Termination: Duration of partnership and conditions for termination
13. Dispute Resolution: Process for resolving disagreements between partners
14. General Provisions: Standard legal clauses including governing law, notices, and amendments
1. Non-Compete and Non-Solicitation: Restrictions on partners' involvement in competing businesses, used when partners have other business interests
2. Franchise Obligations: Required if the restaurant is part of a franchise system
3. Multiple Location Provisions: Include when the partnership plans to operate multiple restaurant locations
4. Alcohol License Provisions: Required if the restaurant will serve alcoholic beverages
5. External Investment: Include when the partnership anticipates seeking or accepting external funding
6. Special Menu Requirements: For restaurants with specific dietary or cultural food requirements
7. Online Delivery Services: Include when the restaurant will operate through delivery platforms
8. Supplier Exclusivity: When there are exclusive supply arrangements that need to be documented
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial and agreed future capital contributions
2. Schedule 2: Asset Register: List of all partnership-owned equipment, furniture, and fixtures
3. Schedule 3: Premises Details: Specific information about the restaurant premises, including lease terms if applicable
4. Schedule 4: Key Personnel: Details of key staff members and their roles
5. Schedule 5: Insurance Requirements: Specific insurance policies and coverage levels required
6. Schedule 6: Operating Procedures: Detailed restaurant operations manual and procedures
7. Schedule 7: Menu and Pricing: Initial menu items and pricing structure
8. Appendix A: Partner Contact Information: Detailed contact information for all partners and their representatives
9. Appendix B: Required Licenses and Permits: List of all required operational licenses and permits
10. Appendix C: Financial Projections: Initial business plan and financial forecasts
Relevant legal definitions
Clauses
Relevant Industries
Food Service
Hospitality
Restaurant Industry
Food & Beverage
Retail
Commercial Real Estate
Small Business
Franchise Operations
Relevant Teams
Legal
Operations
Finance
Commercial
Business Development
Property
Compliance
Food Safety
Risk Management
Corporate Development
Relevant Roles
Restaurant Owner
Restaurant Partner
Business Development Manager
Operations Director
Chief Executive Officer
Chief Financial Officer
Restaurant Manager
General Counsel
Legal Counsel
Commercial Lawyer
Business Development Director
Franchise Manager
Food Service Director
Hospitality Manager
Investment Manager
Property Manager
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