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Agreement Between Partners
I need an Agreement Between Partners for a technology consulting firm in Denmark with three equal partners, where we want to include specific provisions for intellectual property rights and a detailed profit-sharing mechanism to be implemented by March 2025.
1. Parties: Identification and details of all partners entering the agreement
2. Background: Context of the partnership formation and partners' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Structure: Legal form of partnership and basic organizational structure
5. Purpose and Scope: Business objectives and permitted activities of the partnership
6. Capital Contributions: Initial and ongoing capital contributions from each partner
7. Profit and Loss Sharing: Distribution of profits and allocation of losses among partners
8. Management and Decision Making: Partnership governance structure and decision-making processes
9. Partners' Rights and Obligations: Core responsibilities and rights of each partner
10. Financial Management: Accounting practices, banking arrangements, and financial controls
11. Term and Termination: Duration of partnership and conditions for termination
12. Governing Law: Confirmation of Danish law application and jurisdiction
13. Signatures: Execution section for all partners
1. Intellectual Property Rights: Used when the partnership owns or develops IP assets
2. Non-Competition: Include when partners need to be restricted from competing activities
3. Admission of New Partners: Required if the partnership anticipates expanding membership
4. Death or Incapacity: Important for partnerships where personal circumstances significantly impact operations
5. Dispute Resolution: Alternative dispute resolution procedures, if preferred over court proceedings
6. Insurance: Include when specific insurance requirements need to be maintained
7. Confidentiality: Used when handling sensitive business information
8. Partnership Property: Include when the partnership owns significant assets
9. Good Leaver/Bad Leaver: Used when different exit terms apply based on circumstances
1. Schedule 1 - Initial Capital Contributions: Detailed breakdown of each partner's initial contributions
2. Schedule 2 - Business Plan: Initial business plan and strategic objectives
3. Schedule 3 - Profit Sharing Ratios: Detailed profit and loss allocation mechanisms
4. Schedule 4 - Partner Details: Complete contact and identification details of all partners
5. Schedule 5 - Partnership Assets: Inventory of partnership property and assets
6. Appendix A - Banking Arrangements: Banking details and authorized signatories
7. Appendix B - Accounting Policies: Detailed accounting procedures and policies
8. Appendix C - Management Procedures: Detailed operational and management procedures
Authors
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Financial Year
General Partner
Good Leaver
Bad Leaver
Initial Capital
Intellectual Property Rights
Management Committee
Managing Partner
Partnership
Partnership Property
Partner
Partnership Interest
Partnership Share
Profit and Loss Account
Reserved Matters
Senior Partner
Silent Partner
Territory
Transfer
Valuation
Working Capital
Danish Partnership Act
Material Breach
Quarter
Regulatory Requirements
Tax Year
Capital Contributions
Profit and Loss Distribution
Management and Control
Partner Rights and Obligations
Decision Making
Financial Management
Banking Arrangements
Accounting and Records
Intellectual Property
Confidentiality
Non-Competition
Partner Admission
Partner Retirement
Partner Expulsion
Death or Incapacity
Transfer of Interest
Dissolution and Winding Up
Dispute Resolution
Force Majeure
Notices
Amendment
Severability
Entire Agreement
Governing Law
Insurance
Compliance
Good Faith
Partnership Property
Indemnification
Term and Termination
Business Operations
Representations and Warranties
Restrictive Covenants
Assignment
Professional Services
Consulting
Legal Services
Accounting and Financial Services
Real Estate
Trading and Distribution
Technology and Software
Healthcare
Architecture and Design
Engineering
Retail
Manufacturing
Agriculture
Creative Industries
Legal
Corporate Affairs
Finance
Compliance
Risk Management
Business Development
Operations
Executive Leadership
Corporate Governance
Administrative
Business Owner
Managing Partner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Business Development Manager
Company Secretary
Partnership Manager
Risk Manager
Compliance Officer
Operations Director
Managing Director
Founding Partner
General Counsel
Corporate Lawyer
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