Document background
An Operating Partnership Agreement is essential when establishing a business partnership in Austria, whether as an Offene Gesellschaft (OG) or Kommanditgesellschaft (KG). This document is required under Austrian law and must comply with the Unternehmensgesetzbuch (UGB). It sets out the fundamental structure of the partnership, including capital contributions, profit sharing arrangements, management responsibilities, and decision-making processes. The agreement is particularly important as it establishes the rights and obligations of all partners, provides mechanisms for dispute resolution, and addresses crucial aspects such as partnership changes and dissolution. It serves as the primary reference document for partners throughout the partnership's lifecycle and is often required by banks, tax authorities, and other stakeholders for various business operations.
