The General Partnership Agreement is a foundational document used when two or more individuals or entities wish to establish a business partnership in Ireland. It is essential for creating a clear legal framework for the partnership's operations and protecting the interests of all partners. The agreement must comply with Irish partnership law, particularly the Partnership Act 1890, and addresses crucial aspects such as capital contributions, profit sharing, management structure, and partner obligations. This document is typically used when establishing new partnerships or formalizing existing ones, and is particularly important as partners in general partnerships have unlimited liability for the partnership's debts and obligations. The agreement helps prevent future disputes by clearly defining roles, responsibilities, and procedures for various business scenarios.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification and details of all partners entering into the partnership agreement
2. Background: Context of the partnership formation and partners' intention to establish the partnership
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Name and Business: Official name of the partnership and nature of the business to be conducted
5. Commencement and Term: Start date of the partnership and whether it's for a fixed term or continuing
6. Capital Contributions: Initial and ongoing capital contributions by each partner
7. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners
8. Management and Decision Making: Partnership management structure and voting rights for different types of decisions
9. Banking and Financial Matters: Banking arrangements, accounting practices, and financial management procedures
10. Partners' Duties and Obligations: Core responsibilities and duties of partners, including fiduciary duties
11. Meetings and Resolutions: Procedures for partner meetings and decision-making processes
12. Restrictions on Partners: Non-compete and other restrictive covenants applicable to partners
13. New Partners and Exits: Process for admitting new partners and handling partner exits
14. Dissolution and Termination: Circumstances and procedures for partnership dissolution
15. Governing Law and Jurisdiction: Confirmation of Irish law governance and jurisdiction for disputes
1. Intellectual Property Rights: Provisions for IP ownership and licensing when the partnership involves significant intellectual property
2. International Operations: Additional provisions for partnerships operating across multiple jurisdictions
3. Property and Assets: Specific provisions for partnerships owning or leasing significant property assets
4. Employee Matters: Framework for employment decisions when the partnership will have employees
5. Professional Indemnity: Additional provisions for professional services partnerships
6. Retirement Provisions: Detailed retirement arrangements for partnerships with older partners
7. Family Members: Provisions regarding involvement of family members in family-run partnerships
1. Schedule 1 - Capital Contributions: Detailed breakdown of initial and agreed future capital contributions by each partner
2. Schedule 2 - Profit Sharing Ratios: Detailed profit and loss sharing arrangements, including any variable elements
3. Schedule 3 - Partnership Property: List of partnership property and assets, including ownership details
4. Schedule 4 - Accounting Policies: Detailed accounting policies and procedures to be followed
5. Schedule 5 - Management Responsibilities: Detailed allocation of management responsibilities among partners
6. Appendix A - Business Plan: Initial business plan and strategy of the partnership
7. Appendix B - Partner Contact Details: Contact and communication details for all partners
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Legal Services
Accounting and Finance
Medical Practices
Consulting Services
Architecture and Design
Engineering Services
Real Estate
Retail
Food and Beverage
Construction
Information Technology
Marketing and Advertising
Agriculture
Manufacturing
Relevant Teams
Legal
Finance
Corporate Governance
Risk and Compliance
Operations
Business Development
Senior Management
Partnership Board
Executive Leadership
Professional Services
Relevant Roles
Managing Partner
Senior Partner
Partner
Legal Counsel
Corporate Lawyer
Business Development Manager
Chief Executive Officer
Chief Financial Officer
Finance Director
Company Secretary
Professional Service Provider
Business Owner
Entrepreneur
Practice Manager
Operations Director
Risk Manager
Compliance Officer
Find the exact document you need
Software Channel Partner Agreement
An Irish law-governed agreement establishing terms between a software provider and channel partner for software distribution and sales.
Download
Boat Partnership Contract
An Irish law-governed agreement establishing shared boat ownership terms, rights, and responsibilities between multiple parties.
Download
Technology Partner Agreement
An Irish law-governed agreement establishing terms and conditions for technology partnership arrangements, including service delivery, IP rights, and compliance requirements.
Download
Business Partnership Separation Agreement
An Irish law-governed agreement that formalizes the dissolution of a business partnership and establishes terms for partner separation, including asset division and liability allocation.
Download
Domestic Partner Agreement
An Irish law-governed agreement establishing rights and obligations between cohabiting partners, defining their property and financial arrangements.
Download
Venture Capital Partnership Agreement
An Irish law-governed agreement establishing a venture capital partnership, defining relationships between GPs and LPs, and setting operational parameters.
Download
Simple Collaboration Agreement
An Irish law-governed agreement establishing terms for parties to collaborate on specific projects, including key provisions for responsibilities, IP rights, and confidentiality.
Download
Non Binding Partnership Agreement
An Irish law governed framework document outlining intended partnership terms without creating legally binding obligations between parties.
Download
Mou Partnership Agreement
An Irish law-governed MOU that establishes a framework for partnership collaboration, outlining key terms while maintaining typical non-binding characteristics.
Download
Memorandum Of Agreement For Business Partnership
An Irish law-governed agreement that establishes and defines the terms of a business partnership, including rights, responsibilities, and operational framework.
Download
Accounting Firm Partnership Agreement
An Irish law-governed agreement establishing the terms and conditions of an accounting firm partnership, including partner rights, obligations, and operational framework.
Download
Land Partnership Agreement
An Irish law agreement establishing a partnership for land ownership and management, defining rights, responsibilities, and profit-sharing arrangements between partners.
Download
Social Media Partnership Agreement
An Irish law-governed agreement establishing terms and conditions for social media marketing partnerships, ensuring compliance with local and EU regulations.
Download
Memorandum Of Understanding For Business Partnership
An Irish law-governed preliminary agreement outlining intended business partnership terms and framework for future formal collaboration.
Download
Legal Partnership Agreement
An Irish law-governed agreement establishing the terms and conditions of a business partnership, including structure, operations, and partner obligations.
Download
Venture Partner Agreement
An Irish law-governed agreement establishing the terms of engagement and compensation for a Venture Partner in a VC/PE firm.
Download
Technical Partnership Agreement
An Irish law-governed agreement establishing terms and conditions for technical collaboration between partners, including IP rights, data protection, and operational procedures.
Download
Startup Partnership Agreement
An Irish law-governed agreement establishing the terms and conditions of a startup partnership, defining rights, responsibilities, and relationships between partners.
Download
Software Partnership Agreement
An Irish law-governed agreement establishing terms for software development and distribution partnerships, ensuring compliance with local and EU regulations.
Download
Software Partner Agreement
Irish law-governed agreement establishing partnership terms between a software provider and business partner, covering licensing, commercial terms, and operational requirements.
Download
Shareholders Agreement Joint Venture
An Irish law-governed agreement establishing the framework for shareholder relationships and corporate governance in a joint venture company.
Download
Simple Partnership Dissolution Agreement
An Irish law agreement that formally dissolves a partnership and outlines the terms for winding up the business relationship between partners.
Download
Salaried Partner Agreement
An Irish law agreement establishing the terms and conditions for a salaried partner's appointment within a professional services firm.
Download
Real Estate Joint Venture Agreement
An Irish law-governed agreement establishing a joint venture between parties for real estate investment, development, or management purposes.
Download
Profit Sharing Agreement In Business Partnership
An Irish law-governed agreement establishing profit sharing arrangements between business partners, including calculation methods and distribution mechanisms.
Download
Preferred Partnership Agreement
An Irish law-governed agreement establishing a preferred partnership relationship between businesses, defining preferential terms and mutual obligations.
Download
Preferred Partner Agreement
An Irish law-governed agreement establishing a preferential business partnership between parties, defining commercial terms, obligations, and operational framework.
Download
Partnership Subscription Agreement
An Irish law-governed agreement facilitating the subscription of limited partners into an investment partnership, outlining investment terms and regulatory compliance requirements.
Download
Partnership Agreement Profit Sharing
An Irish law-governed Partnership Agreement that establishes partner relationships and profit-sharing arrangements, ensuring compliance with Irish partnership legislation.
Download
Non Equity Partnership Agreement
An Irish law-governed agreement establishing the terms and conditions for a non-equity partner's relationship with a partnership, including rights, responsibilities, and obligations.
Download
New Partnership Agreement
An Irish law-governed agreement establishing the terms and conditions for a business partnership, defining partners' rights, obligations, and operational framework.
Download
Long Term Partnering Agreement
An Irish law-governed agreement establishing a long-term strategic partnership between entities, defining collaboration terms and operational framework.
Download
Limited Partnership Agreement
An Irish law-governed agreement establishing a limited partnership structure between general and limited partners, defining their rights, obligations, and operational framework.
Download
Lifetime Partnership Agreement
An Irish law-governed agreement establishing a formal lifetime partnership between two individuals, covering legal, financial, and personal aspects of their relationship.
Download
Joint Partnership Agreement
An Irish law-governed agreement establishing a formal partnership between two or more parties, defining their rights, responsibilities, and business relationship terms.
Download
Influencer Partnership Agreement
An Irish law-governed agreement between brands and social media influencers defining their partnership terms, content requirements, and regulatory compliance obligations.
Download
Hotel Partnership Agreement
An Irish law-governed agreement establishing a partnership structure for hotel operations, defining partner rights, responsibilities, and operational frameworks.
Download
Home Buying Partnership Agreement
An Irish law-governed agreement establishing terms for joint property purchase and ownership between multiple parties, including rights, responsibilities, and exit provisions.
Download
General Cooperation Agreement
An Irish law-governed agreement establishing formal cooperation between parties, defining their collaborative relationship, rights, and obligations.
Download
Fixed Share Partnership Agreement
An Irish law-governed agreement establishing the terms for a fixed share partner's admission to a partnership, including rights, duties, and financial arrangements.
Download
ұԾ’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; ұԾ’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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)