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1. Parties: Identifies and provides full details of all partners entering into the agreement
2. Background: Explains the context of the partnership and the intention to operate a restaurant business
3. Definitions: Defines key terms used throughout the agreement
4. Partnership Structure: Details the nature of the partnership, ownership percentages, and capital contributions
5. Management and Control: Outlines decision-making processes, voting rights, and management responsibilities
6. Financial Arrangements: Covers profit sharing, loss allocation, accounting practices, and banking arrangements
7. Operational Responsibilities: Details day-to-day management responsibilities, staff supervision, and quality control
8. Compliance and Licensing: Addresses requirements for maintaining necessary permits, licenses, and compliance with food safety regulations
9. Insurance and Liability: Specifies required insurance coverage and allocation of liability between partners
10. Intellectual Property: Covers ownership and usage of restaurant name, logos, recipes, and other IP
11. Term and Termination: Specifies duration of partnership and circumstances for termination
12. Dispute Resolution: Outlines procedures for resolving disagreements between partners
13. General Provisions: Includes standard clauses such as notices, amendments, and governing law
1. Non-Compete and Confidentiality: Restricts partners from competing activities and protects confidential information - used when there are trade secrets or specialized knowledge
2. Franchise Obligations: Required when the restaurant is part of a franchise system, detailing franchise-specific requirements
3. Property Lease Arrangements: Included when the partnership is also handling property lease responsibilities
4. External Investment: Needed when the partnership agreement allows for future external investment or additional partners
5. Multiple Location Provisions: Used when the partnership plans to or may operate multiple restaurant locations
6. Family Succession Rights: Important for family-owned restaurants to detail succession planning
7. Special Menu or Concept Rights: Required when specific menu items or restaurant concepts are owned by individual partners
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions, both monetary and non-monetary
2. Schedule 2: Asset Register: Comprehensive list of partnership assets including equipment, furnishings, and valuable items
3. Schedule 3: Premises Details: Specific information about the restaurant premises, including floor plans and facilities
4. Schedule 4: Key Personnel: List of key management staff and their roles/responsibilities
5. Schedule 5: Operating Procedures: Detailed operational guidelines and standard procedures
6. Schedule 6: Menu and Pricing Strategy: Initial menu items and pricing structure
7. Schedule 7: Partnership Insurance Policies: Details of required insurance coverage and policies
8. Appendix A: Required Licenses and Permits: List of all necessary operational licenses and permits
9. Appendix B: Health and Safety Procedures: Detailed health, safety, and food handling procedures
Food & Beverage
Hospitality
Restaurant Industry
Food Service
Retail
Commercial Real Estate
Franchise Operations
Small Business
Catering Services
Hospitality Management
Legal
Operations
Finance
Compliance
Executive Leadership
Business Development
Property Management
Food & Beverage
Risk Management
Commercial
Restaurant Owner
Managing Partner
Operations Director
Legal Counsel
Business Development Manager
Restaurant Manager
Financial Controller
Food and Beverage Director
Compliance Officer
Chief Executive Officer
Chief Financial Officer
Restaurant Consultant
Franchise Manager
Property Manager
Business Attorney
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