Partnership Deed Template for Austria

The Partnership Deed serves as the foundational document for establishing and operating a partnership business in Austria. It is essential when two or more parties wish to formalize their business relationship under Austrian law, particularly the Unternehmensgesetzbuch (UGB) and Allgemeines bürgerliches Gesetzbuch (ABGB). This document should be used when forming new partnerships, restructuring existing ones, or admitting new partners. The Partnership Deed comprehensively addresses capital contributions, profit sharing, management structures, partner obligations, and operational procedures. It provides legal protection for all parties involved and serves as a reference point for resolving potential future disputes. The document must comply with Austrian partnership regulations while being adaptable to specific business needs and circumstances.

1. Parties: Identification and details of all partners entering into the partnership agreement

2. Background: Context of the partnership formation and partners' intention to establish the partnership

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

4. Partnership Name and Business: Official name of the partnership and nature of business activities

5. Commencement and Duration: Start date and term of the partnership

6. Capital Contributions: Details of initial and ongoing capital contributions from each partner

7. Profit and Loss Sharing: Agreement on how profits and losses will be distributed among partners

8. Management and Decision Making: Partnership management structure and decision-making processes

9. Banking and Financial Matters: Banking arrangements and financial management procedures

10. Partner Duties and Obligations: Rights, responsibilities, and obligations of all partners

11. Meetings and Resolutions: Procedures for partner meetings and decision-making processes

12. Accounts and Records: Requirements for maintaining partnership accounts and records

13. Admission of New Partners: Process and conditions for admitting new partners

14. Retirement and Withdrawal: Procedures for partner retirement or voluntary withdrawal

15. Death or Incapacity: Provisions dealing with death or incapacity of partners

16. Dissolution and Winding Up: Circumstances and procedures for partnership dissolution

17. Governing Law: Confirmation of Austrian law as governing law and jurisdiction

18. Notices: Process for formal communications between partners