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Business Ownership Agreement

Business Ownership Agreement Template for Austria

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Key Requirements PROMPT example:

Business Ownership Agreement

"I need a Business Ownership Agreement for my family-owned manufacturing company in Austria, where I'm planning to transfer 30% ownership to my two children while retaining majority control and including specific succession planning provisions to be implemented by March 2025."

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Document background
The Business Ownership Agreement serves as a foundational document for businesses operating under Austrian jurisdiction, establishing clear parameters for ownership structures and shareholder relationships. It is essential when multiple parties invest in or own a business, requiring detailed documentation of their rights, responsibilities, and obligations. The agreement becomes particularly crucial during business formation, ownership transfers, or when updating existing ownership structures. It must comply with Austrian corporate law, including the Unternehmensgesetzbuch (UGB) and relevant corporate legislation, while addressing specific requirements for different business forms such as GmbH or AG. This document typically includes provisions for ownership percentages, voting rights, profit distribution, transfer restrictions, and exit mechanisms, making it a critical tool for business governance and dispute prevention.
Suggested Sections

1. Parties: Identification of all parties involved in the agreement, including full legal names, registration numbers, and addresses

2. Background: Context of the agreement, including business history and purpose of the ownership arrangement

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

4. Business Structure and Ownership: Details of the business structure, ownership percentages, and share classes

5. Capital Contributions: Specifications of initial and ongoing capital contributions from each owner

6. Management and Control: Governance structure, decision-making processes, and voting rights

7. Profit and Loss Distribution: Methods for calculating and distributing profits and losses

8. Transfer of Ownership: Rules and procedures for transferring ownership interests

9. Exit Provisions: Procedures for owner exit, including buy-sell provisions and valuation methods

10. Confidentiality: Provisions regarding confidential information and trade secrets

11. Dispute Resolution: Procedures for resolving disputes between owners

12. Governing Law: Specification of Austrian law as governing law and jurisdiction

13. Amendment and Termination: Procedures for modifying the agreement and conditions for termination

Optional Sections

1. Pre-emptive Rights: Rights of existing owners to purchase shares before they can be sold to third parties

2. Tag-Along Rights: Rights of minority owners to join in the sale of shares by majority owners

3. Drag-Along Rights: Rights of majority owners to force minority owners to join in the sale of the business

4. Intellectual Property Rights: Specific provisions regarding ownership and use of intellectual property

5. Non-Competition: Restrictions on owners competing with the business

6. Death or Incapacity: Procedures for handling ownership in case of death or incapacity of an owner

7. Special Industry Provisions: Specific provisions required for regulated industries

8. Employee Ownership: Special provisions for employee ownership programs

9. Family Succession: Specific provisions for family-owned businesses regarding succession

Suggested Schedules

1. Schedule A - Share Capital Structure: Detailed breakdown of share classes, numbers, and ownership percentages

2. Schedule B - Initial Capital Contributions: Detailed list of initial capital contributions from each owner

3. Schedule C - Business Assets: Inventory of business assets and their ownership status

4. Schedule D - Valuation Method: Detailed methodology for business valuation in case of transfers or exits

5. Schedule E - Management Structure: Detailed organizational chart and management responsibilities

6. Appendix 1 - Shareholders' Resolution: Copy of shareholders' resolution approving the ownership agreement

7. Appendix 2 - Business Registration: Copies of business registration documents and certificates

8. Appendix 3 - Financial Statements: Recent financial statements of the business

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Annual Accounts
Articles of Association
Board
Business
Business Day
Business Plan
Capital Contribution
Company
Confidential Information
Control
Defaulting Shareholder
Encumbrance
Event of Default
Fair Market Value
Financial Year
Gesellschaft
Geschäftsführer
Geschäftsanteil
Good Cause
Governing Law
Group
Intellectual Property Rights
Management Board
Managing Director
Material Breach
Member
Minority Shareholder
Notice
Operating Profit
Ordinary Resolution
Parties
Permitted Transfer
Person
Pre-emption Rights
Profit and Loss
Qualifying Shares
Related Party
Reserved Matters
Shareholders
Shareholders' Meeting
Shares
Special Resolution
Subsidiary
Supervisory Board
Tag-Along Rights
Transfer
Transferee
Transferor
Voting Rights
Clauses
Ownership Structure
Capital Contributions
Share Classes
Voting Rights
Management Rights
Board Composition
Decision Making
Reserved Matters
Pre-emptive Rights
Transfer Restrictions
Tag-Along Rights
Drag-Along Rights
Put and Call Options
Profit Distribution
Dividend Policy
Information Rights
Reporting Requirements
Non-Competition
Non-Solicitation
Confidentiality
Intellectual Property
Share Valuation
Exit Mechanisms
Buy-Sell Provisions
Death and Disability
Dispute Resolution
Deadlock Resolution
Amendment Procedures
Termination Rights
Force Majeure
Governing Law
Jurisdiction
Notices
Severability
Entire Agreement
Relevant Industries

Manufacturing

Technology

Professional Services

Retail

Real Estate

Construction

Healthcare

Hospitality

Financial Services

Energy

Agriculture

Transportation

Media and Entertainment

Family Businesses

Consulting Services

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Finance

Compliance

Business Development

Corporate Affairs

Investment

Risk Management

Strategy

Relevant Roles

Chief Executive Officer

Managing Director

Chief Financial Officer

Legal Counsel

Corporate Secretary

Business Owner

Shareholder

Board Member

Compliance Officer

Investment Manager

Corporate Governance Officer

Business Development Director

Partner

Trustee

Financial Controller

Industries
Unternehmensgesetzbuch (UGB): Austrian Commercial Code - Fundamental legislation governing commercial enterprises, business transactions, and commercial relationships
Allgemeines Bürgerliches Gesetzbuch (ABGB): Austrian Civil Code - Contains basic provisions on contracts, legal capacity, and property rights
GmbH-Gesetz (GmbHG): Limited Liability Companies Act - Specific regulations for GmbH (LLC) including ownership structures, transfer of shares, and shareholders' rights
Aktiengesetz (AktG): Stock Corporation Act - Regulations for stock corporations (AG) including shareholding, corporate governance, and ownership rights
Firmenbuchgesetz (FBG): Commercial Register Act - Regulations regarding business registration and documentation of ownership changes
Kartellgesetz (KartG): Cartel Act - Competition law aspects that might affect ownership transfers and business combinations
Unternehmensübergangsgesetz (AVRAG §3): Business Transfer Act - Provisions regarding the transfer of businesses and its impact on employment relationships
Kapitalverkehrsteuergesetz: Capital Transfer Tax Act - Tax implications for business ownership transfers and share acquisitions
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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