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Partnership Contract Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Partnership Contract Agreement

"I need a Partnership Contract Agreement for a technology consulting firm to be established in Dubai Silicon Oasis Free Zone by March 2025, between three partners (two UAE nationals and one international partner), with specific provisions for intellectual property protection and profit sharing based on both capital contribution and active involvement in the business."

Document background
The Partnership Contract Agreement is a fundamental document for establishing business partnerships in the United Arab Emirates, essential for both local and international investors seeking to form business alliances in the region. This document is structured to comply with UAE Federal Law No. 2 of 2015 (Commercial Companies Law) and must be executed in accordance with local legal requirements, including potential notarization and registration with relevant authorities. The agreement comprehensively covers all aspects of the partnership, from formation to dissolution, including capital contributions, profit-sharing mechanisms, management structures, and dispute resolution procedures. It's particularly important in the UAE context where different partnership types (professional, limited liability, etc.) have specific legal requirements and ownership restrictions. The document can be adapted for both mainland and free zone operations, requiring careful consideration of jurisdiction-specific regulations and compliance requirements.
Suggested Sections

1. Parties: Identification of all partners with full legal names, addresses, and nationality details as required by UAE law

2. Background: Context of the partnership formation and brief description of partners' intention to enter into the partnership

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

4. Partnership Formation: Declaration of partnership formation, business name, and registered address

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

6. Capital Contributions: Details of initial and any agreed future capital contributions from each partner

7. Profit and Loss Sharing: Formula and mechanisms for distribution of profits and allocation of losses

8. Management and Control: Management structure, voting rights, and decision-making processes

9. Partners' Duties and Obligations: Rights, responsibilities, and obligations of all partners

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

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

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

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

14. Dissolution and Liquidation: Circumstances and procedures for partnership dissolution and asset distribution

15. Dispute Resolution: Procedures for resolving disputes, including mediation and arbitration provisions

16. Governing Law: Specification of UAE law as governing law and relevant jurisdiction

17. General Provisions: Standard clauses including notices, amendments, and severability

Optional Sections

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

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

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

4. Employee Management: Procedures for hiring, managing, and terminating employees, important for larger partnerships

5. International Operations: Provisions for international business activities, relevant for partnerships operating across borders

6. Religious Compliance: Provisions ensuring compliance with Sharia law, if partners require Islamic finance principles

7. Social Media and Communications: Guidelines for partnership's public communications and social media presence

8. Environmental Compliance: Environmental responsibility provisions, important for industries with environmental impact

Suggested Schedules

1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's capital contributions, including valuations of non-cash contributions

2. Schedule 2: Profit Sharing Ratios: Detailed formula and examples of profit/loss distribution calculations

3. Schedule 3: Business Plan: Initial business plan and strategic objectives

4. Schedule 4: Partner Information: Detailed information about each partner, including contact details and representatives

5. Schedule 5: Management Procedures: Detailed procedures for management meetings, voting, and decision-making

6. Schedule 6: Asset Register: List of partnership assets and their agreed values

7. Appendix A: Required Licenses: Copies or details of all required business licenses and permits

8. Appendix B: Property Documents: Details of any property owned or leased by the partnership

Authors

Alex Denne

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

Relevant legal definitions














































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Relevant Industries

Professional Services

Real Estate & Construction

Retail & Commerce

Manufacturing

Technology & IT

Healthcare

Education

Financial Services

Hospitality & Tourism

Logistics & Transportation

Media & Entertainment

Energy & Resources

Trading & Import/Export

Consulting Services

Relevant Teams

Legal

Finance

Corporate Affairs

Compliance

Business Development

Strategy

Operations

Risk Management

Commercial

Investment

Corporate Governance

Executive Leadership

Relevant Roles

Chief Executive Officer

Managing Director

Business Development Manager

Legal Counsel

Corporate Lawyer

Chief Financial Officer

Finance Director

Business Owner

Entrepreneur

Company Secretary

Compliance Officer

Partner

Managing Partner

Operations Director

Strategy Director

Investment Manager

Risk Manager

Commercial Director

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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