The Short Partnership Agreement is designed for use in the Austrian legal context when two or more parties wish to establish a straightforward business partnership without complex operational structures. This document type is particularly valuable for small businesses, professional services, and entrepreneurs who need a clear but comprehensive partnership framework. It includes essential provisions required by Austrian law while avoiding unnecessary complexity. The agreement typically covers partner identification, capital contributions, profit sharing, management rights, and basic operational procedures. It's especially suitable when partners want to quickly formalize their business relationship while ensuring compliance with the Austrian Commercial Code (UGB) and Civil Code (ABGB). The document can be easily customized while maintaining its core legal requirements.
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1. Parties: Identification of all partners with full legal names and addresses
2. Background: Brief context of the partnership formation and business purpose
3. Definitions: Key terms used throughout the agreement
4. Partnership Formation: Declaration of partnership formation, type of partnership, and commencement date
5. Business Purpose: Defined scope and objectives of the partnership business
6. Capital Contributions: Initial capital contributions of each partner and timing
7. Profit and Loss Sharing: Agreement on how profits and losses will be distributed
8. Management Rights: Basic management structure and decision-making processes
9. Partner Obligations: Core duties and responsibilities of partners
10. Term and Termination: Duration of partnership and basic termination provisions
1. Intellectual Property: Include when partnership will develop or use significant IP
2. Non-Competition: Include when partners should be restricted from competing activities
3. Additional Capital Calls: Include when there might be need for future capital contributions
4. Bank Accounts: Include when specific banking arrangements need to be documented
5. Insurance: Include when specific insurance requirements need to be established
6. Dispute Resolution: Include when specific dispute resolution mechanisms are preferred over standard court proceedings
1. Schedule 1 - Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions
2. Schedule 2 - Partner Contact Details: Complete contact information for all partners
3. Schedule 3 - Business Plan: Brief outline of initial business objectives and strategies
4. Appendix A - Specimen Signatures: Partner signatures for banking and official documents
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