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1. Parties: Identification of all partners involved in the separation, including their full legal names and addresses
2. Background: Brief history of the partnership, reason for separation, and current status
3. Definitions: Definitions of key terms used throughout the agreement
4. Effective Date of Separation: Specific date when the separation becomes effective
5. Asset Distribution: Detailed breakdown of how partnership assets will be divided
6. Liabilities and Debt Allocation: Assignment of existing partnership liabilities and debts between partners
7. Client and Contract Management: Handling of existing clients, contracts, and ongoing projects
8. Intellectual Property Rights: Division and future usage rights of partnership IP
9. Confidentiality Obligations: Ongoing confidentiality requirements post-separation
10. Non-Compete and Non-Solicitation: Restrictions on competitive activities and client/employee solicitation
11. Release and Indemnification: Mutual release of claims and indemnification provisions
12. Dispute Resolution: Process for resolving any future disputes
13. Governing Law: Confirmation of UAE law application and jurisdiction
14. Execution: Signature blocks and execution requirements
1. Employee Matters: Required if the partnership has employees - covers transfer or termination of employment contracts
2. Real Estate Provisions: Required if the partnership owns or leases property - covers property division or lease assignment
3. Bank Accounts and Financial Matters: Required for partnerships with complex financial arrangements - covers handling of bank accounts and financial instruments
4. Insurance Matters: Required if there are partnership insurance policies - covers continuation or cancellation of coverage
5. Tax Provisions: Required for partnerships with significant tax implications - covers tax liability allocation
6. Ongoing Cooperation: Optional section for cases requiring continued interaction between partners
7. Third Party Consents: Required if separation requires approval from external parties
8. Social Media and Online Presence: Required for partnerships with significant online presence - covers handling of digital assets
1. Schedule A - Asset List: Comprehensive list of all partnership assets and their agreed values
2. Schedule B - Liability List: Detailed list of all partnership liabilities and payment responsibilities
3. Schedule C - Client List: List of all clients and their allocation between partners
4. Schedule D - Intellectual Property Register: Detailed inventory of all IP owned by the partnership
5. Schedule E - Employee Information: List of employees and their status post-separation
6. Schedule F - Ongoing Projects: List of current projects and their handling post-separation
7. Appendix 1 - Financial Statements: Recent financial statements of the partnership
8. Appendix 2 - Separation Timeline: Detailed timeline for implementing separation activities
Applicable Law
Assets
Business
Business Day
Claim
Commencement Date
Completion
Completion Date
Confidential Information
Consideration
Department of Economic Development
Disclosed Information
Effective Date
Encumbrance
Existing Clients
Financial Statements
Goodwill
Intellectual Property Rights
Liabilities
License
Material Contracts
Outstanding Amounts
Partnership
Partnership Assets
Partnership Interest
Partnership Obligations
Parties
Permits
Prohibited Activities
Relevant Authority
Remaining Partner
Separation Notice
Separating Partner
Share
Tax
Territory
Trade License
Trade Name
Transaction Documents
Transfer
UAE
Working Capital
Separation Terms
Asset Division
Liability Allocation
Purchase Price
Payment Terms
Client Transfer
Employee Matters
Intellectual Property Rights
Confidentiality
Non-Compete
Non-Solicitation
Representations and Warranties
Tax Matters
Indemnification
Release of Claims
Post-Separation Obligations
Further Assurance
Transition Period
Bank Accounts
Business Records
Third Party Consents
Public Announcements
Costs and Expenses
Force Majeure
Assignment
Notices
Amendments
Severability
Entire Agreement
Governing Law
Dispute Resolution
Termination
Waiver
Third Party Rights
Professional Services
Legal Services
Accounting & Financial Services
Management Consulting
Real Estate
Architecture & Design
Medical Practices
Engineering Services
Retail & Trading
Technology Services
Construction
Small & Medium Enterprises
Legal
Finance
Compliance
Human Resources
Operations
Business Development
Risk Management
Corporate Secretarial
Commercial
Administration
Managing Partner
Business Owner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Business Development Director
Operations Manager
Partnership Manager
Compliance Officer
Risk Manager
Company Secretary
Financial Controller
Human Resources Director
Commercial Director
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