Partnership Agreements in Austria serve as the foundational document for establishing and governing business partnerships under Austrian law. These agreements are essential when two or more parties wish to form a business partnership, whether as a general partnership (Offene Gesellschaft - OG) or limited partnership (Kommanditgesellschaft - KG). The document must comply with the Austrian Commercial Code (UGB) and Civil Code (ABGB), addressing crucial aspects such as capital contributions, profit sharing, management rights, and partner obligations. Partnership Agreements are particularly important as they provide legal certainty and clear governance structures, helping prevent future disputes and ensuring smooth business operations. The document should be carefully drafted to reflect the specific needs of the partnership while maintaining compliance with Austrian regulatory requirements.
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1. Parties: Identification and details of all partners entering the agreement
2. Background: Context of the partnership formation and partners' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Formation: Legal establishment of the partnership, including type of partnership and commencement date
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: Agreement on how profits and losses will be distributed among partners
8. Management and Decision Making: Management structure and decision-making processes, including voting rights
9. Partners' Rights and Obligations: Detailed description of partners' rights, duties, and responsibilities
10. Financial Management: Procedures for financial management, including accounting practices and banking arrangements
11. Transfer of Partnership Interests: Rules regarding the transfer of partnership interests to third parties
12. Duration and Termination: Term of the partnership and conditions for termination
13. Dispute Resolution: Procedures for resolving disputes between partners
14. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
1. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property - include when IP is significant to the business
2. Non-Competition: Restrictions on partners competing with the partnership - include for businesses with sensitive market positions
3. Confidentiality: Provisions regarding confidential information - include when dealing with sensitive business information
4. Insurance: Requirements for business insurance - include when specific insurance coverage is necessary
5. Employee Management: Procedures for hiring and managing employees - include when the partnership will have employees
6. Professional Regulations: Compliance with professional body requirements - include for regulated professions
7. International Operations: Provisions for international business activities - include for partnerships operating across borders
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 breakdown of profit and loss sharing arrangements
3. Schedule 3 - Business Plan: Initial business plan and strategy
4. Schedule 4 - Property Schedule: Details of any property owned or leased by the partnership
5. Schedule 5 - Intellectual Property Register: Register of partnership's intellectual property assets
6. Appendix A - Partnership Policies: Internal policies and procedures
7. Appendix B - Partner Contact Details: Detailed contact information for all partners
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Retail
Manufacturing
Technology
Construction
Consulting
Healthcare
Real Estate
Hospitality
Financial Services
Creative Industries
Agriculture
Legal Services
Accounting Services
Relevant Teams
Legal
Finance
Compliance
Risk Management
Corporate Governance
Business Development
Operations
Tax
Administration
Executive Leadership
Corporate Secretariat
Relevant Roles
Managing Partner
Legal Counsel
Chief Executive Officer
Chief Financial Officer
Business Development Manager
Company Secretary
Tax Advisor
Compliance Officer
Risk Manager
Operations Director
Partnership Administrator
Corporate Lawyer
Business Owner
Entrepreneur
General Counsel
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