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Partnership Deed Assignment

Partnership Deed Assignment Template for United Arab Emirates

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Key Requirements PROMPT example:

Partnership Deed Assignment

"I need a Partnership Deed Assignment for transferring a 25% partnership interest in our Dubai-based trading company to a new partner, with completion scheduled for March 15, 2025, including specific provisions for ongoing liabilities and intellectual property rights."

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Document background
The Partnership Deed Assignment is a crucial document used when a partner wishes to transfer their interest in a partnership to another party in the United Arab Emirates. This document becomes necessary during business restructuring, partner retirement, or when new partners are being introduced to an existing partnership. The assignment deed must comply with UAE Federal Law No. 8 of 1984 (Commercial Companies Law) and related regulations, requiring careful attention to local legal requirements and business practices. It typically includes detailed provisions about the transfer of rights, obligations, and liabilities, partner approvals, regulatory compliance, and completion requirements. The document may need additional provisions if the partnership operates in a UAE free zone or if specific sector regulations apply. A properly executed Partnership Deed Assignment ensures smooth transition of partnership interests while maintaining legal compliance and protecting all parties' interests under UAE law.
Suggested Sections

1. Parties: Identification of the Assignor (existing partner), Assignee (new partner), and Other Partners (continuing partners)

2. Background: Details of the existing partnership, its business, and the context of the assignment

3. Definitions: Definitions of key terms used throughout the assignment deed

4. Assignment: Core provisions detailing the transfer of partnership interest, including the effective date and scope

5. Consideration: Details of the payment or other consideration for the assignment

6. Completion: Requirements and conditions for completing the assignment, including regulatory approvals

7. Warranties and Representations: Warranties given by both assignor and assignee regarding their capacity and authority

8. Rights and Obligations: Outline of the rights being transferred and ongoing obligations of all parties

9. Regulatory Compliance: Provisions ensuring compliance with UAE partnership laws and regulations

10. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction

11. Execution: Signature blocks and execution formalities

Optional Sections

1. Non-Competition: Restrictions on the assignor's future business activities, if required

2. Tax Provisions: Specific provisions regarding tax liabilities and obligations, relevant if VAT registered

3. Continuing Guarantee: Provisions for ongoing guarantees by the assignor, if applicable

4. Partner Approval: Specific section for partner approvals if not all partners are direct parties

5. Free Zone Requirements: Additional provisions if the partnership operates in a UAE free zone

6. Intellectual Property: Specific provisions regarding IP rights if the partnership owns significant IP

Suggested Schedules

1. Schedule 1 - Partnership Details: Details of the existing partnership agreement and registration

2. Schedule 2 - Partnership Interest: Detailed description of the partnership interest being assigned

3. Schedule 3 - Completion Requirements: List of documents and actions required for completion

4. Schedule 4 - Existing Liabilities: List of known liabilities and obligations of the partnership

5. Appendix A - Required Consents: Forms of consent required from regulatory authorities or other partners

6. Appendix B - Transfer Documents: Forms of transfer documents required by local authorities

Authors

Alex Denne

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

alex.den.21@genieai.co
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Relevant Industries

Professional Services

Real Estate

Construction

Trading

Hospitality

Retail

Manufacturing

Consulting

Technology

Healthcare

Financial Services

Media and Entertainment

Import/Export

Logistics

Food and Beverage

Relevant Teams

Legal

Finance

Compliance

Corporate Secretarial

Risk Management

Operations

Business Development

Executive Leadership

Corporate Governance

Administrative

Relevant Roles

Legal Counsel

Managing Partner

Business Development Manager

Chief Executive Officer

Chief Financial Officer

Commercial Director

Company Secretary

Compliance Officer

Corporate Lawyer

Finance Director

Managing Director

Operations Manager

Partner

Risk Manager

Senior Partner

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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