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1. Parties: Identifies all family members entering into the partnership agreement, including their legal capacities and relationships
2. Background: Sets out the context of the family business, its history, and the purpose of forming the partnership
3. Definitions: Defines key terms used throughout the agreement, including family-specific terminology
4. Partnership Structure: Details the legal form of partnership, ownership percentages, and capital contributions of each family member
5. Management and Control: Establishes the management structure, voting rights, and decision-making processes
6. Roles and Responsibilities: Defines specific roles, duties, and responsibilities of family members in the business
7. Profit and Loss Sharing: Specifies how profits and losses will be distributed among family members
8. Capital Accounts: Details the maintenance and management of capital accounts for each partner
9. Transfer Restrictions: Sets out restrictions on transferring partnership interests, particularly to non-family members
10. Succession Planning: Outlines the process for business succession and transfer of interests to next generation
11. Dispute Resolution: Establishes procedures for resolving conflicts between family members
12. Termination and Dissolution: Specifies conditions and procedures for partnership termination or dissolution
13. Governing Law: Confirms the agreement is governed by Philippine law and relevant regulations
1. Family Employment Policy: Guidelines for employing family members, used when the family wants to establish clear criteria for family member employment
2. Family Council: Establishes a family governance body, recommended for larger family businesses
3. Education and Training: Provisions for developing next-generation family members, useful for succession planning
4. Non-Competition: Restricts family members from competing with the business, important for protecting business interests
5. Intellectual Property Rights: Addresses ownership and use of family business IP, necessary when IP is a significant asset
6. Family Member Exit Strategy: Detailed procedures for family members who wish to exit the business, important for larger families
7. Dividend Policy: Establishes guidelines for dividend distributions, useful for managing family expectations
8. Family Business Constitution: References to a separate family constitution, recommended for complex family businesses
1. Schedule A - Initial Capital Contributions: Detailed list of initial capital contributions from each family member
2. Schedule B - Partnership Assets: Comprehensive inventory of partnership assets and their valuations
3. Schedule C - Family Member Roles: Current roles and positions held by family members in the business
4. Schedule D - Business Plan: Current business plan and strategic objectives
5. Schedule E - Valuation Method: Agreed method for valuating partnership interests
6. Appendix 1 - Family Member Contact Details: Contact information for all family members involved in the partnership
7. Appendix 2 - Required Regulatory Filings: List of necessary regulatory compliance documents
8. Appendix 3 - Family Business Policies: Compilation of adopted family business policies and procedures
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