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Partnership Shareholder Agreement

Partnership Shareholder Agreement Template for Nigeria

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Key Requirements PROMPT example:

Partnership Shareholder Agreement

"I need a Partnership Shareholder Agreement for a new tech startup in Lagos, Nigeria, with three founding partners who will each contribute different amounts of initial capital and have different management responsibilities, to be effective from March 2025."

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Document background
The Partnership Shareholder Agreement is a crucial document used when establishing or formalizing a business relationship where parties act as both partners and shareholders in Nigeria. It becomes particularly relevant when transitioning from a simple partnership to a more structured corporate entity, or when establishing a new business with multiple stakeholders. This document combines traditional partnership principles with corporate governance requirements under Nigerian law, specifically addressing requirements of the Companies and Allied Matters Act (CAMA) 2020. It covers essential aspects such as capital contributions, profit sharing, management rights, share transfers, and exit strategies, while also incorporating specific Nigerian regulatory requirements and business practices. The agreement is designed to prevent future disputes by clearly defining rights, responsibilities, and procedures for various business scenarios, making it an essential tool for business formations and reorganizations in Nigeria.
Suggested Sections

1. Parties: Identification and details of all partners/shareholders entering into the agreement

2. Background: Context of the partnership, history of the business, and purpose of the agreement

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Partnership Structure: Legal structure, business name, registered office, and nature of the partnership

5. Capital Contributions: Initial and subsequent capital contributions, valuation of non-cash contributions

6. Shareholding Structure: Distribution of shares, classes of shares, and rights attached to shares

7. Management and Decision Making: Governance structure, voting rights, reserved matters, and management responsibilities

8. Transfer of Shares: Restrictions on transfer, right of first refusal, tag-along and drag-along rights

9. Financial Matters: Profit sharing, dividend policy, accounting practices, and financial reporting

10. Partners' Duties and Obligations: Responsibilities, commitments, and expectations of each partner

11. Competition and Confidentiality: Non-compete provisions, confidentiality obligations, and intellectual property rights

12. Dispute Resolution: Process for resolving disputes, mediation, and arbitration procedures

13. Term and Termination: Duration of agreement, exit provisions, and consequences of termination

14. General Provisions: Governing law, notices, amendments, and other standard boilerplate clauses

Optional Sections

1. Pre-emptive Rights: Used when partners want the right to maintain their percentage ownership in case of new share issuance

2. Tag-Along and Drag-Along Rights: Include when there's a possibility of future sale to third parties

3. Put and Call Options: Include when partners want specific rights to sell their shares to others or buy others' shares

4. Death and Incapacity: Include specific provisions for succession planning in case of death or incapacity of partners

5. Intellectual Property Rights: Include detailed IP provisions if the partnership involves significant IP assets

6. Employee Share Schemes: Include if the partnership plans to offer shares to employees

7. Foreign Investment Provisions: Include if any partners are foreign entities or individuals

8. Digital Assets and Cryptocurrency: Include if the partnership deals with digital assets or cryptocurrency

Suggested Schedules

1. Schedule 1: Details of Partners: Complete information about each partner including contact details and shareholding

2. Schedule 2: Initial Capital Contributions: Detailed breakdown of each partner's initial capital contribution

3. Schedule 3: Business Plan: Initial business plan and strategic objectives

4. Schedule 4: Reserved Matters: List of decisions requiring special majority or unanimous consent

5. Schedule 5: Share Valuation Methodology: Agreed method for valuing shares in various circumstances

6. Appendix A: Company Articles: Copy of the company's articles of association

7. Appendix B: CAC Documentation: Relevant Corporate Affairs Commission documentation

8. Appendix C: Deed of Adherence: Template for new partners joining the partnership

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






































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Relevant Industries

Professional Services

Manufacturing

Technology

Real Estate

Retail

Agriculture

Financial Services

Healthcare

Energy

Construction

Education

Hospitality

Mining

Transportation

Telecommunications

Relevant Teams

Legal

Corporate Secretariat

Finance

Compliance

Executive Leadership

Board of Directors

Corporate Governance

Business Development

Risk Management

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Company Secretary

Legal Counsel

Corporate Lawyer

Business Development Manager

Chief Financial Officer

Finance Director

Partner

Managing Partner

Board Member

Director

Compliance Officer

Investment Manager

Shareholder Representative

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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