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50 50 Operating Agreement

50 50 Operating Agreement Template for India

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Key Requirements PROMPT example:

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."

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Document background
The 50-50 Operating Agreement is a crucial document for establishing equal partnerships in India, commonly used when two parties wish to formalize a business relationship with equal ownership and control. This agreement type is particularly relevant in the Indian business context, where it must comply with the Indian Partnership Act, 1932, Companies Act, 2013, and other applicable regulations. The document serves as a comprehensive framework detailing equal capital contributions, management rights, profit-sharing mechanisms, and operational procedures. It's essential for new business formations, joint ventures, or restructuring existing partnerships into equal ownership arrangements. The agreement includes specific provisions addressing Indian regulatory requirements, tax implications, and local business practices, making it a fundamental tool for establishing and maintaining successful equal partnerships in India.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions









































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Relevant Industries

Professional Services

Information Technology

Manufacturing

Retail

Real Estate

Healthcare

Consulting

E-commerce

Education

Construction

Hospitality

Agriculture

Financial Services

Media and Entertainment

Relevant Teams

Legal

Finance

Corporate Affairs

Compliance

Risk Management

Operations

Business Development

Corporate Strategy

Executive Leadership

Corporate Governance

Relevant Roles

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

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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