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General Partnership Contract
"I need an Austrian General Partnership Contract for a family-owned restaurant business with three siblings as equal partners, including specific provisions for profit sharing and succession planning in case of a partner's death or incapacity."
1. Parties: Identification and details of all partners forming the partnership
2. Background: Context of the partnership formation and partners' intention to establish an OG
3. Definitions: Key terms used throughout the agreement
4. Formation and Name: Official partnership name, commencement date, and registration details
5. Purpose and Business Activities: Detailed description of partnership's business objectives and permitted activities
6. Capital Contributions: Initial capital contributions of each partner, including cash, assets, or services
7. Partnership Interests: Partners' ownership percentages and any special rights attached
8. Management and Representation: Management structure, decision-making processes, and external representation rights
9. Partners' Rights and Obligations: Detailed rights and responsibilities of partners, including participation in management
10. Profit and Loss Distribution: Formula and timing for distributing profits and losses among partners
11. Banking and Financial Matters: Banking arrangements, accounting principles, and financial management
12. Partner Meetings: Procedures for regular and special partner meetings, voting rights
13. Books and Records: Record-keeping requirements and partners' access rights
14. Duration and Termination: Partnership term and conditions for termination
15. Governing Law: Confirmation of Austrian law application and jurisdiction
1. Non-Competition: Restrictions on partners' involvement in competing businesses, used when partners want to protect business interests
2. Intellectual Property: IP rights management and ownership, relevant when the partnership involves significant IP assets
3. Employment of Partners: Terms for partners working in the business, needed when partners take active operational roles
4. Insurance: Required insurance coverage, recommended for high-risk businesses
5. Confidentiality: Protection of partnership's confidential information, important for knowledge-based businesses
6. Dispute Resolution: Alternative dispute resolution procedures, recommended for complex partnerships
7. Assignment and Transfer: Rules for transferring partnership interests, important for larger partnerships
8. Death or Incapacity: Procedures following partner death or incapacity, crucial for family businesses or long-term partnerships
1. Schedule 1 - Initial Capital Contributions: Detailed list of each partner's initial contributions including valuations
2. Schedule 2 - Business Plan: Initial business plan and strategy
3. Schedule 3 - Property and Assets: List of partnership's initial property and assets
4. Schedule 4 - Specimen Signatures: Partners' authorized signatures for official documents
5. Schedule 5 - Trade Licenses: Copies of required trade licenses and permits
6. Appendix A - Management Procedures: Detailed operational and management procedures
7. Appendix B - Financial Procedures: Detailed accounting and financial management procedures
Authors
Partners
Partnership
Business
Capital Account
Capital Contribution
Commencement Date
Commercial Register
Company Name
Confidential Information
Default Event
Financial Year
Firmenbuch
Initial Capital
Insolvency Event
Intellectual Property Rights
Management Board
Managing Partner
Material Breach
Net Profit
Net Loss
Operating Account
Partnership Assets
Partnership Interest
Principal Place of Business
Profit Share
Registered Office
Reserved Matters
Special Resolution
Tax Year
Territory
Transfer
UGB
Working Day
Partnership Name
Purpose
Duration
Capital Contribution
Partnership Interests
Management Rights
Representation Authority
Profit and Loss Distribution
Partner Obligations
Decision Making
Voting Rights
Financial Management
Banking
Accounting
Partner Meetings
Record Keeping
Non-Competition
Confidentiality
Intellectual Property
Transfer Restrictions
Admission of New Partners
Partner Withdrawal
Partner Death
Partner Incapacity
Termination
Liquidation
Dispute Resolution
Governing Law
Amendment
Force Majeure
Notices
Severability
Entire Agreement
Professional Services
Retail
Wholesale Trade
Manufacturing
Construction
Consulting
Family Businesses
Artisanal Crafts
Agriculture
Real Estate
Hospitality
Technology Services
Medical Practices
Legal Services
Accounting Services
Legal
Finance
Corporate Governance
Executive Leadership
Risk Management
Compliance
Business Development
Corporate Affairs
Tax
Operations
Business Owner
Managing Partner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Corporate Lawyer
Business Development Manager
Company Secretary
Finance Director
Partnership Manager
Compliance Officer
Risk Manager
Managing Director
Business Consultant
Tax Advisor
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