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Partnership Articles Of Association

Partnership Articles Of Association Template for Philippines

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Key Requirements PROMPT example:

Partnership Articles Of Association

"I need Partnership Articles of Association for a technology consulting firm in Manila with three equal partners, where we want to include specific provisions for intellectual property rights and the possibility of admitting new partners in the future as we expand."

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Document background
Partnership Articles of Association serve as the fundamental governing document for business partnerships in the Philippines, establishing the legal and operational framework for the business relationship between partners. This document is essential when two or more parties wish to form a business partnership, whether for professional services, trading, or other commercial activities. It must comply with the Civil Code of the Philippines and other relevant legislation, including the Code of Commerce and tax regulations. The articles typically detail capital contributions, profit-sharing arrangements, management structure, partner rights and obligations, and procedures for major business decisions. Partners should create this document before commencing business operations and update it as needed when circumstances change or new partners join.
Suggested Sections

1. Parties: Details of all founding partners, including full names, addresses, and citizenship

2. Background: Context of the partnership formation and partners' intention to associate

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

4. Partnership Name and Principal Office: Official name of the partnership and its registered address

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

6. Term of Partnership: Duration of the partnership (fixed term or indefinite)

7. Capital Contributions: Initial and subsequent capital contributions of each partner

8. Profit and Loss Sharing: Agreement on distribution of profits and allocation of losses

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

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

11. Meetings and Voting: Procedures for partnership meetings and voting mechanisms

12. Books of Accounts and Records: Requirements for maintaining partnership financial records

13. Bank Accounts: Management of partnership bank accounts and signing authorities

14. Admission of New Partners: Process and conditions for admitting new partners

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

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

17. Governing Law: Specification of Philippine law as governing law

18. Dispute Resolution: Procedures for resolving disputes between partners

Optional Sections

1. Non-Competition: Restrictions on partners engaging in competing businesses, used when partners have other business interests

2. Intellectual Property Rights: Ownership and use of IP, important for partnerships involving creative or technical work

3. Insurance: Requirements for business insurance, relevant for high-risk businesses

4. Environmental Compliance: Environmental obligations, necessary for businesses with environmental impact

5. Foreign Investment Provisions: Special provisions when foreign partners are involved

6. Professional Qualifications: Required for professional partnerships (law, accounting, etc.)

7. Succession Planning: Procedures for handling deceased partner's interest

8. Social Media and Communication Policy: Guidelines for public communications, important for client-facing businesses

Suggested Schedules

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

2. Schedule B - Profit Sharing Ratios: Specific percentages or formulas for profit distribution

3. Schedule C - Partner Information: Detailed information about each partner including contact details

4. Schedule D - Assets Register: List of partnership assets and their values

5. Schedule E - Management Structure: Detailed organizational structure and management roles

6. Appendix 1 - Business Plan: Initial business plan and projections

7. Appendix 2 - Operating Procedures: Detailed internal procedures and policies

8. Appendix 3 - Required Licenses: Copies of business licenses and permits

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

alex.den.21@genieai.co
Relevant legal definitions



















































Clauses













































Relevant Industries

Professional Services

Retail and Trading

Manufacturing

Construction

Real Estate

Food and Beverage

Technology and Software

Consulting

Healthcare

Agriculture

Education

Financial Services

Import/Export

Logistics

Creative Industries

Relevant Teams

Legal

Finance

Compliance

Risk Management

Corporate Secretariat

Tax

Operations

Business Development

Senior Management

Board of Partners

Administrative

Relevant Roles

Managing Partner

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Corporate Secretary

Business Development Manager

Operations Manager

Compliance Officer

Risk Manager

Finance Director

Managing Director

Partnership Administrator

Senior Partner

Junior Partner

Company Secretary

Tax 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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