¶¶Òõ¶ÌÊÓƵ

All Countries
Mergers & Acquisitions
Partner Buyout Agreement

Partner Buyout Agreement Template for South Africa

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Partner Buyout Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Partner Buyout Agreement

"I need a Partner Buyout Agreement for our Cape Town-based architecture firm where one founding partner is retiring in March 2025, with payment to be structured over 24 months and including specific provisions for ongoing client project transitions."

Celebrated by
Collaborations with
Investors
Document background
The Partner Buyout Agreement is a critical document used when a partner wishes to exit a partnership or when other partners seek to acquire a partner's interest in South Africa. This agreement is essential for businesses structured as partnerships, particularly professional services firms, family businesses, and joint ventures. The document comprehensively addresses the financial, legal, and operational aspects of the partner's exit, including purchase price determination, payment structures, and post-exit obligations. It must comply with South African legislation, including the Companies Act, Income Tax Act, and relevant industry regulations. The agreement typically includes provisions for valuation methods, handling of existing clients and contracts, confidentiality obligations, and dispute resolution mechanisms. It serves to protect both the departing partner's interests and the ongoing stability of the partnership.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including the selling partner, remaining partners, and the partnership entity

2. Background: Context of the partnership, reason for buyout, and current ownership structure

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Sale and Purchase: Core transaction terms including the interest being sold and purchased

5. Purchase Price: Details of the purchase consideration, including calculation method and any adjustments

6. Payment Terms: Payment structure, timing, and mechanics for the purchase price

7. Conditions Precedent: Any conditions that must be met before the agreement becomes effective

8. Completion: Process and requirements for closing the transaction

9. Warranties and Representations: Standard warranties from both seller and purchaser regarding capacity, authority, and partnership interests

10. Restraint of Trade: Restrictions on the selling partner's future business activities

11. Confidentiality: Obligations regarding confidential information and trade secrets

12. Tax Matters: Allocation of tax liabilities and responsibilities

13. Dispute Resolution: Mechanism for resolving disputes between parties

14. General Provisions: Standard boilerplate clauses including notices, governing law, and entire agreement

Optional Sections

1. Employee Matters: Include when the selling partner has direct responsibility for employees or when employment relationships are affected

2. Intellectual Property: Include when significant IP assets are involved or when the partner has created/contributed to partnership IP

3. Outstanding Liabilities: Include when there are specific partner loans or liabilities to be addressed

4. Client Transition: Include when the departing partner has significant client relationships that need management

5. Earn-out Provisions: Include when part of the purchase price is contingent on future performance

6. Professional Indemnity: Include for professional service partnerships where ongoing liability coverage is needed

7. Property Matters: Include when real property interests are affected by the buyout

8. Third Party Consents: Include when material contracts or licenses require consent for change in partnership

Suggested Schedules

1. Partnership Interest Details: Detailed description of the partnership interest being transferred

2. Purchase Price Calculation: Detailed methodology and calculations for determining the purchase price

3. Assets and Liabilities: Complete list of partnership assets and liabilities affecting the transaction

4. Completion Obligations: Detailed list of actions and documents required for completion

5. Key Contracts: List of material contracts affected by the partner's departure

6. Client List: List of clients and associated revenue if relevant to the transaction

7. Existing Claims: Schedule of any ongoing or potential claims involving the partnership

8. Required Consents: List of third-party consents required for the transaction

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













































Clauses




































Relevant Industries

Professional Services

Legal Services

Accounting and Audit

Management Consulting

Architecture and Design

Medical Practices

Engineering Firms

Real Estate

Information Technology

Financial Services

Construction

Manufacturing

Retail and Distribution

Agriculture

Relevant Teams

Legal

Finance

Compliance

Risk Management

Human Resources

Operations

Business Development

Tax

Corporate Secretariat

Executive Leadership

Board of Directors

Relevant Roles

Managing Partner

Senior Partner

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Company Secretary

Financial Director

Partnership Board Member

Business Development Director

Risk Manager

Compliance Officer

Tax Director

Human Resources Director

Operations Director

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

Find the exact document you need

Property Buyout Agreement

A South African law-compliant agreement documenting the terms and conditions for the purchase and sale of real property, including transfer requirements and parties' obligations.

find out more

Partner Buyout Agreement

A South African law-governed agreement facilitating the purchase of a departing partner's interest by remaining partners or the partnership entity.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

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.