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Family Partnership Agreement
"I need a Family Partnership Agreement for our third-generation family retail business in Dubai, with specific provisions for integrating five branches of the family and managing our expansion into e-commerce, to be implemented by March 2025."
1. Parties: Identification of all family members entering into the partnership agreement
2. Background: Context of the family business, history, and purpose of the partnership agreement
3. Definitions: Definitions of key terms used throughout the agreement, including 'Family Member', 'Partnership', 'Family Council', etc.
4. Partnership Formation: Details of partnership structure, initial capital contributions, and registration requirements under UAE law
5. Partnership Interests: Allocation of ownership interests among family members and classes of partnership interests
6. Family Governance Structure: Establishment and powers of Family Council, voting rights, and decision-making processes
7. Management and Control: Day-to-day management structure, appointment of managers, and scope of authority
8. Financial Provisions: Profit sharing, losses, capital accounts, and distribution policies
9. Transfer Restrictions: Limitations on transfer of partnership interests and family ownership preservation
10. Succession Planning: Rules for generational transfer and succession of partnership interests
11. Exit Provisions: Procedures for voluntary and involuntary exit of family members from the partnership
12. Dispute Resolution: Procedures for resolving family and business disputes, including mediation and arbitration
13. Term and Termination: Duration of partnership and circumstances leading to dissolution
14. General Provisions: Standard clauses including governing law, notices, and amendments
1. Family Employment Policy: Rules for family members' employment in the business - include when family members will be actively involved in operations
2. Education and Training: Provisions for developing next generation leadership - include when succession planning is a priority
3. Family Code of Conduct: Guidelines for family member behavior and responsibilities - include for larger family groups
4. Charitable Giving: Structure for family philanthropy and community engagement - include when social responsibility is a priority
5. Business Diversification: Rules for expanding into new business areas - include when growth and diversification are planned
6. Family Constitution Integration: Reference to family constitution if one exists - include when family has broader governance documents
7. Non-Family Member Provisions: Rules for non-family member involvement - include when external expertise is needed
8. Islamic Finance Compliance: Specific provisions ensuring Shariah compliance - include when required by family values
1. Schedule 1: Current Partnership Interests: Detailed breakdown of current ownership structure and capital contributions
2. Schedule 2: Family Members: Complete list of family members and their status within the partnership
3. Schedule 3: Business Assets: Inventory of partnership assets and their agreed values
4. Schedule 4: Family Council Procedures: Detailed procedures for Family Council meetings and governance
5. Schedule 5: Valuation Methodology: Agreed methods for valuing partnership interests
6. Schedule 6: Distribution Policy: Detailed rules for profit distribution and reinvestment
7. Appendix A: Family Tree: Current family tree showing relationships between members
8. Appendix B: Key Business Licenses: Copies of current business licenses and registrations
Authors
Retail and Consumer Goods
Real Estate and Construction
Manufacturing and Industrial
Trading and Distribution
Hospitality and Tourism
Healthcare Services
Professional Services
Agriculture and Food Production
Investment and Financial Services
Technology and Digital Services
Education Services
Transportation and Logistics
Media and Entertainment
Energy and Resources
Family Office Services
Legal
Corporate Governance
Family Office
Executive Leadership
Board of Directors
Compliance
Finance
Risk Management
Strategic Planning
Operations
Administration
Investment
Business Development
Family Council
Succession Planning
Family Business CEO
Managing Partner
Family Office Director
Chief Legal Officer
Corporate Governance Director
Succession Planning Manager
Business Development Director
Family Council Chairman
Partnership Secretary
Compliance Officer
Risk Management Director
Family Relations Manager
Strategic Planning Director
Investment Manager
Operations Director
Finance Director
Board Member
Executive Committee Member
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