The Partnership Agreement (Gesellschaftsvertrag) is a fundamental document used when establishing a business partnership under German law. It is essential for various partnership forms including general partnerships (OHG), limited partnerships (KG), and professional partnerships (PartG). This document should be used when two or more parties wish to formally establish a business relationship where they share ownership, profits, and responsibilities. The agreement must comply with German partnership law requirements, including provisions from both the Civil Code (BGB) and Commercial Code (HGB). It covers crucial aspects such as capital contributions, profit distribution, management rights, partner obligations, and exit procedures. The document is particularly important as it sets the foundation for the partnership's operations and helps prevent future disputes by clearly defining all aspects of the business relationship.
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1. Parties: Identification and details of all partners entering the agreement
2. Background: Context and purpose of the partnership formation
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Formation: Legal establishment of the partnership, including type, name, and registration details
5. Purpose and Business Scope: Detailed description of partnership's business activities and objectives
6. Capital Contributions: Initial and ongoing capital contributions from partners
7. Profit and Loss Sharing: Distribution of profits and allocation of losses among partners
8. Management and Decision Making: Governance structure, voting rights, and decision-making processes
9. Partner Rights and Obligations: Core rights and duties of all partners
10. Financial Management: Financial reporting, accounting practices, and fiscal year definitions
11. Partnership Property: Ownership and management of partnership assets
12. Transfer of Partnership Interests: Rules for transferring partnership shares
13. Term and Termination: Duration of partnership and conditions for termination
14. Dispute Resolution: Procedures for resolving disputes between partners
15. Governing Law: Confirmation of German law application and jurisdiction
16. Miscellaneous Provisions: Standard closing provisions including severability and entire agreement
1. Intellectual Property Rights: Required when the partnership involves creation or use of intellectual property
2. Non-Competition and Confidentiality: Additional restrictions on partners' activities, recommended for knowledge-based businesses
3. Employee Management: Include when partnership will have employees
4. International Operations: Required for partnerships operating across borders
5. Professional Qualifications: Necessary for professional partnerships (PartG) such as law or medical practices
6. Silent Partners: Include when partnership involves silent partners (Kommanditisten)
7. Insurance Requirements: Detailed insurance obligations, recommended for high-risk businesses
8. Succession Planning: Procedures for handling partner death or incapacity, important for family businesses
1. Capital Contributions Schedule: Detailed breakdown of each partner's initial and committed capital contributions
2. Profit Sharing Ratios: Detailed calculations and scenarios for profit distribution
3. Partnership Property Register: Inventory of partnership assets and their ownership status
4. Management Structure Chart: Organizational structure and reporting lines
5. Business Plan: Initial business plan and strategy
6. Partner Contact Details: Complete contact information for all partners
7. Required Licenses and Permits: List of necessary operational licenses and permits
8. Partner Special Rights: Any special rights or privileges granted to specific partners
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Manufacturing
Retail
Technology
Healthcare
Real Estate
Construction
Financial Services
Consulting
Agriculture
Hospitality
Education
Media and Entertainment
Transport and Logistics
Energy
Relevant Teams
Legal
Finance
Corporate Governance
Risk and Compliance
Operations
Business Development
Management
Administrative
Strategy
Tax
Relevant Roles
Managing Director
Chief Executive Officer
Business Owner
Partner
Legal Counsel
Chief Financial Officer
Business Development Manager
Company Secretary
Risk Manager
Compliance Officer
Professional Partner
Board Member
General Counsel
Corporate Lawyer
Investment Manager
Operations Director
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