Create a bespoke document in minutes, Â or upload and review your own.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Family Business Partnership Agreement
"Need a Family Business Partnership Agreement for our third-generation manufacturing company to formalize the entry of my two children into the business from March 2025, including specific provisions for profit sharing and future succession planning."
1. 1. Parties: Identification and details of all family members entering the partnership
2. 2. Background: History of the family business and context for the agreement
3. 3. Definitions: Key terms used throughout the agreement
4. 4. Partnership Structure: Legal structure, ownership percentages, and capital contributions
5. 5. Management and Decision Making: Roles, responsibilities, and voting rights of partners
6. 6. Profit Sharing: Distribution of profits and losses among partners
7. 7. Financial Matters: Capital accounts, drawings, and financial management procedures
8. 8. Business Operations: Day-to-day management and operational procedures
9. 9. Exit Provisions: Procedures for retirement, death, or voluntary exit from the partnership
10. 10. Dispute Resolution: Procedures for handling disagreements and conflicts
1. Succession Planning: Detailed provisions for next generation transition and inheritance planning
2. Intellectual Property Rights: Ownership and protection of intellectual property within the family business
3. Employment Terms: Specific terms and conditions for family members working in the business
4. Non-Competition: Restrictions on partners competing with the family business
5. Family Council: Structure and operation of family governance body
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of partners' initial investments and contributions
2. Schedule 2: Business Assets: Comprehensive list of business assets and their ownership status
3. Schedule 3: Family Constitution: Family values, principles, and guidelines governing the business
4. Schedule 4: Valuation Methodology: Agreed method for valuing partnership interests
5. Schedule 5: Decision Making Matrix: Detailed breakdown of voting rights and decision-making thresholds
Authors
Find the exact document you need
Download our whitepaper on the future of AI in Legal
³Ò±ð²Ô¾±±ð’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.