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50 50 Operating Agreement
"I need a 50-50 Operating Agreement for a technology consulting business in Bangalore, where both partners will be actively involved in day-to-day operations and will contribute equal initial capital of INR 25 lakhs each, with the business planned to commence by March 2025."
1. Parties: Identification and details of the two equal partners entering into the agreement
2. Background: Context of the partnership formation and business purpose
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Confirmation of 50-50 ownership structure and initial capital contributions
5. Management Rights: Equal management rights and decision-making processes, including voting mechanisms
6. Capital Accounts: Maintenance of capital accounts and rules for additional capital contributions
7. Profit and Loss Sharing: Equal distribution of profits and losses between partners
8. Banking and Financial Matters: Banking arrangements, signing authorities, and financial management procedures
9. Meetings and Resolutions: Procedures for partner meetings and decision-making processes
10. Transfer Restrictions: Limitations on transfer of partnership interests and right of first refusal
11. Exit Provisions: Procedures for partner withdrawal, retirement, or death
12. Dissolution: Circumstances and procedures for partnership dissolution
13. Confidentiality: Protection of partnership's confidential information
14. Dispute Resolution: Mechanisms for resolving disputes between partners
15. Governing Law: Application of Indian law and jurisdiction
1. Non-Compete: Restrictions on partners engaging in competing businesses, include if partners have other business interests
2. Intellectual Property Rights: IP ownership and usage rights, include if business involves significant IP
3. Employment of Partners: Terms if partners will be employed in the business, include if partners will have operational roles
4. Insurance: Requirements for business insurance, include if business has significant liability risks
5. Related Party Transactions: Rules for dealing with related party transactions, include if partners have other business relationships
6. Force Majeure: Provisions for unforeseen circumstances, include if business has operational vulnerabilities
7. Environmental Compliance: Environmental obligations, include if business has environmental impact
1. Schedule A - Initial Capital Contributions: Detailed list of each partner's initial capital contributions, including valuations
2. Schedule B - Business Plan: Initial business plan and strategic objectives
3. Schedule C - Asset Register: List of partnership assets and their allocated values
4. Schedule D - Operational Procedures: Detailed day-to-day operational procedures and policies
5. Schedule E - Signing Authorities: Specific financial and operational signing authorities
6. Appendix 1 - Partnership Resolution Template: Standard format for partnership resolutions
7. Appendix 2 - Valuation Methodology: Agreed methods for valuing partnership interests
8. Appendix 3 - Compliance Checklist: List of regulatory compliance requirements
Authors
Professional Services
Information Technology
Manufacturing
Retail
Real Estate
Healthcare
Consulting
E-commerce
Education
Construction
Hospitality
Agriculture
Financial Services
Media and Entertainment
Legal
Finance
Corporate Affairs
Compliance
Risk Management
Operations
Business Development
Corporate Strategy
Executive Leadership
Corporate Governance
Business Owner
Managing Director
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Company Secretary
Business Development Manager
Partnership Manager
Operations Director
Finance Director
Compliance Officer
Risk Manager
Managing Partner
Executive Director
Corporate Lawyer
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