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Business Co Ownership Agreement
"I need a Business Co-Ownership Agreement for a tech startup in Hong Kong with three equal co-owners, where two will be actively involved in management and one will be a silent partner, with specific provisions for intellectual property protection and future funding rounds."
1. Parties: Identifies and provides full details of all co-owners entering into the agreement
2. Background: Sets out the context of the agreement, including the nature of the business and the parties' intention to co-own it
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Business Structure: Specifies the legal structure of the business and ownership percentages
5. Capital Contributions: Details the initial and ongoing capital contributions required from each co-owner
6. Management and Control: Outlines how the business will be managed and decisions will be made
7. Profit and Loss Distribution: Specifies how profits and losses will be shared among co-owners
8. Rights and Obligations: Details the specific rights and responsibilities of each co-owner
9. Transfer of Ownership: Establishes procedures for transferring ownership interests, including right of first refusal
10. Dispute Resolution: Sets out the process for resolving disagreements between co-owners
11. Termination: Specifies conditions and procedures for terminating the agreement or exit of a co-owner
12. Governing Law: Confirms Hong Kong law as governing law and jurisdiction
1. Non-Compete and Confidentiality: Restricts co-owners from competing with the business and protects confidential information
2. Intellectual Property Rights: Addresses ownership and use of intellectual property in the business
3. Insurance: Specifies required insurance coverage and responsibilities
4. Death or Incapacity: Procedures for handling ownership in case of death or incapacity of a co-owner
5. External Financing: Procedures for obtaining and managing external financing
6. Employment of Co-owners: Terms for co-owners who are also employees of the business
7. Tag-Along and Drag-Along Rights: Provisions for minority owner protection and majority owner exit rights
8. Business Expansion: Procedures for business expansion and additional capital raising
9. Related Party Transactions: Rules for handling business dealings with related parties
1. Schedule 1 - Business Details: Details of the business including registration numbers, address, and nature of business
2. Schedule 2 - Initial Capital Contributions: Detailed breakdown of each owner's initial capital contributions
3. Schedule 3 - Ownership Structure: Detailed breakdown of ownership percentages and share classes if applicable
4. Schedule 4 - Management Structure: Organizational chart and management responsibilities
5. Schedule 5 - Reserved Matters: List of decisions requiring unanimous or special majority approval
6. Schedule 6 - Valuation Method: Agreed method for valuing the business in case of transfer or exit
7. Appendix A - Business Plan: Initial business plan and strategic objectives
8. Appendix B - Financial Projections: Initial financial projections and budgets
Authors
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Co-owner
Companies Ordinance
Completion Date
Confidential Information
Default Event
Defaulting Party
Directors
Effective Date
Encumbrance
Fair Market Value
Financial Year
Governing Law
Initial Capital Contribution
Intellectual Property Rights
Management Committee
Material Breach
Net Profit
Ownership Interest
Parties
Reserved Matters
Resolution Period
Right of First Refusal
Share
Shareholder
Special Resolution
Tag-Along Rights
Territory
Transfer
Valuation Date
Working Capital
Business Structure
Ownership Interest
Capital Contributions
Additional Capital
Management and Control
Decision Making
Reserved Matters
Meetings
Financial Management
Profit Distribution
Banking Arrangements
Business Operations
Confidentiality
Non-Competition
Intellectual Property
Transfer of Shares
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Death or Incapacity
Default Events
Valuation
Exit Provisions
Buy-Out Rights
Termination
Force Majeure
Dispute Resolution
Governing Law
Indemnification
Insurance
Notices
Amendment
Severability
Entire Agreement
Professional Services
Retail
Technology
Manufacturing
Food and Beverage
Healthcare
Consulting
Real Estate
E-commerce
Education
Creative Industries
Financial Services
Construction
Hospitality
Legal
Corporate Secretarial
Compliance
Finance
Risk Management
Executive Leadership
Business Development
Corporate Governance
Strategy
Business Owner
Managing Director
Chief Executive Officer
Partner
Company Director
Chief Financial Officer
Legal Counsel
Corporate Lawyer
Business Development Manager
Company Secretary
Risk Manager
Compliance Officer
Professional Practice Partner
Entrepreneur
Family Business Owner
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