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Business Ownership Agreement

Business Ownership Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Business Ownership Agreement

"I need a Business Ownership Agreement for a Saudi-based technology startup with three partners (two local Saudi nationals and one foreign investor from the UK), including specific provisions for intellectual property rights and future funding rounds planned for March 2025."

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Document background
The Business Ownership Agreement is a foundational document used when establishing or restructuring business ownership in Saudi Arabia. It becomes necessary when two or more parties wish to formalize their business relationship, define ownership stakes, and establish governance mechanisms. This document is particularly crucial in the Saudi Arabian context due to specific regulatory requirements, including Companies Law compliance, foreign ownership restrictions, and Shariah law considerations. The agreement typically addresses key aspects such as capital contributions, profit distribution, management control, transfer restrictions, and exit mechanisms. It's essential for protecting all parties' interests while ensuring compliance with local regulations, particularly in light of Saudi Arabia's Vision 2030 reforms and changing business landscape.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and registration details

2. Background: Context of the agreement, including business purpose and ownership structure rationale

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Business Structure and Ownership: Details of the business entity type, ownership percentages, and capital contributions

5. Capital and Financing: Initial capital requirements, future funding obligations, and capital maintenance rules

6. Management and Control: Management structure, decision-making processes, and voting rights

7. Shareholder Rights and Obligations: Detailed rights and responsibilities of owners, including profit sharing and loss bearing

8. Transfer Restrictions: Limitations on transfer of ownership interests and right of first refusal provisions

9. Exit Mechanisms: Procedures for owner exit, including buy-sell provisions and valuation methods

10. Dispute Resolution: Procedures for resolving disputes, including mediation and arbitration processes

11. Confidentiality: Protection of business secrets and confidential information

12. Term and Termination: Duration of the agreement and circumstances for termination

13. Governing Law: Confirmation of Saudi law application and Shariah compliance

14. General Provisions: Standard legal provisions including notices, amendments, and severability

Optional Sections

1. Foreign Ownership Provisions: Required when any owner is a non-Saudi entity, addressing SAGIA requirements and foreign investment regulations

2. Industry-Specific Compliance: Required for regulated industries like financial services or healthcare

3. Intellectual Property Rights: Needed when the business owns or develops significant IP

4. Non-Competition and Non-Solicitation: Important for businesses with trade secrets or significant customer relationships

5. Tag-Along and Drag-Along Rights: Useful for companies with multiple shareholders and potential future sale prospects

6. Reserved Matters: List of decisions requiring special majority or unanimous approval, important for minority shareholder protection

7. Shariah Board: Required for businesses needing ongoing Shariah compliance monitoring

8. Digital Assets and Technology: Required for tech companies or businesses with significant digital presence

9. Environmental Compliance: Important for industrial or manufacturing businesses

Suggested Schedules

1. Schedule 1: Business Plan: Detailed business plan including projections and strategic objectives

2. Schedule 2: Capital Contributions: Detailed breakdown of initial and committed capital contributions by each owner

3. Schedule 3: Shareholder Information: Detailed information about each shareholder including contact details and ownership percentages

4. Schedule 4: Property and Assets: List of company assets and property owned at formation

5. Schedule 5: Key Contracts: List of material contracts and agreements

6. Schedule 6: Management Structure: Detailed organizational chart and management responsibilities

7. Schedule 7: Valuation Methodology: Agreed methods for business valuation in case of transfers or exits

8. Appendix A: Required Governmental Approvals: List of necessary licenses, permits and regulatory approvals

9. Appendix B: Share Certificate Template: Template for share certificates compliant with Saudi regulations

10. Appendix C: Shareholder Resolution Templates: Standard templates for shareholder resolutions

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 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











































Clauses









































Relevant Industries

Retail

Manufacturing

Technology

Financial Services

Healthcare

Real Estate

Construction

Professional Services

Hospitality

Education

Transportation

Energy

Agriculture

E-commerce

Telecommunications

Relevant Teams

Legal

Corporate Affairs

Compliance

Finance

Executive Leadership

Board of Directors

Investment

Strategy

Risk Management

Corporate Governance

Shareholder Relations

Business Development

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Legal Counsel

Corporate Lawyer

Chief Financial Officer

Company Secretary

Compliance Officer

Investment Manager

Board Member

Shareholder Relations Manager

Corporate Governance Officer

Business Development Director

Strategy Director

Risk Manager

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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