Document background
The Simple General Partnership Agreement (OG Agreement) is a crucial document for businesses operating in Austria who wish to establish a partnership where all members actively participate in the business operations with unlimited liability. This type of agreement is commonly used when two or more parties want to combine their resources, expertise, and efforts to operate a business together under Austrian law. The document is governed by the Austrian Commercial Code (UGB) and must include specific provisions regarding partner contributions, profit sharing, management rights, and decision-making processes. It's particularly suitable for small to medium-sized businesses where partners want to maintain direct control over operations while sharing responsibilities and liabilities. The agreement must be registered with the Austrian Commercial Register (Firmenbuch) and forms the foundational document that governs the partnership's entire lifecycle, from formation through operation to potential dissolution.
