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A Business Partnership Agreement is a fundamental legal document used when two or more individuals or entities decide to enter into a business partnership in Ireland. This agreement is essential for clearly defining the terms of the partnership relationship, protecting all parties' interests, and ensuring compliance with Irish partnership law, particularly the Partnership Act 1890. It details crucial aspects such as capital contributions, profit-sharing arrangements, management responsibilities, decision-making processes, and exit strategies. The document becomes particularly important in preventing and resolving potential disputes, providing clarity on partner rights and obligations, and establishing a clear governance framework. It should be drafted with consideration of Irish tax implications, business regulations, and specific industry requirements applicable to the partnership's intended business activities.

1. Parties: Identifies all partners entering into the agreement, including their full legal names and addresses

2. Background: Sets out the context and intention of the partners to form a business partnership

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Partnership Formation: Establishes the creation of the partnership, its name, and commencement date

5. Nature of Business: Describes the partnership's business activities and scope

6. Place of Business: Specifies the principal place of business and any registered office requirements

7. Capital Contributions: Details the initial and any agreed future capital contributions from each partner

8. Profit and Loss Sharing: Specifies how profits and losses will be distributed among partners

9. Banking and Financial Matters: Establishes banking arrangements and financial management procedures

10. Management and Decision Making: Outlines management structure and decision-making processes

11. Partners' Duties and Obligations: Details the responsibilities and obligations of all partners

12. Meetings and Voting: Establishes procedures for partner meetings and voting requirements

13. Books and Records: Specifies requirements for maintaining partnership records and accounts

14. Retirement and Admission: Procedures for partner retirement and admission of new partners

15. Death or Incapacity: Procedures following death or incapacity of a partner

16. Termination: Conditions and procedures for partnership termination

17. Dispute Resolution: Procedures for resolving disputes between partners

18. Governing Law: Confirms Irish law as governing law and jurisdiction