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Limited Liability Partnership Agreement
"I need a Limited Liability Partnership Agreement under Saudi law for a technology consulting firm with three partners (two Saudi nationals and one UAE national), with specific provisions for intellectual property protection and a planned business expansion into cloud services by March 2025."
1. Parties: Identification of all partners, including full legal names, addresses, and nationality
2. Background: Context of the partnership formation and partners' intention to establish an LLP
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Partnership Formation: Declaration of partnership establishment, business purpose, and term
5. Capital and Contributions: Details of initial capital, partner contributions, and capital maintenance requirements
6. Partnership Interests: Allocation of partnership interests and profit/loss sharing ratios
7. Management and Decision Making: Management structure, partner authorities, and decision-making processes
8. Partners' Rights and Obligations: Detailed rights and duties of partners, including voting rights and responsibilities
9. Financial Matters: Financial management, accounting practices, and distribution policies
10. Transfer of Partnership Interests: Rules for transferring interests, including restrictions and procedures
11. Partner Exit Provisions: Procedures for partner withdrawal, retirement, or death
12. Dissolution and Liquidation: Circumstances and procedures for partnership dissolution
13. Confidentiality: Protection of partnership's confidential information
14. Dispute Resolution: Procedures for resolving disputes between partners
15. Governing Law: Confirmation of Saudi law application and Shariah compliance
16. General Provisions: Miscellaneous legal provisions including notices, amendments, and severability
1. Non-Competition: Restrictions on partners' competing activities, used when partners have other business interests
2. Intellectual Property: IP ownership and usage rights, included when the partnership involves significant IP assets
3. Partner Loans: Terms for partner loans to the partnership, used when additional financing is anticipated
4. Foreign Partner Provisions: Special provisions for foreign partners, included when there are non-Saudi partners
5. Zakat and Tax Provisions: Detailed tax handling, used when partners have different tax/Zakat obligations
6. Executive Committee: Formation and powers of an executive committee, used in larger partnerships
7. Branch Offices: Provisions for establishing branch offices, used when geographic expansion is planned
1. Schedule 1: Partner Details: Detailed information about each partner, including contact details and initial capital contributions
2. Schedule 2: Business Plan: Initial business plan and objectives of the partnership
3. Schedule 3: Capital Contributions: Detailed breakdown of each partner's capital contributions (cash, assets, or services)
4. Schedule 4: Management Structure: Detailed management structure and procedures
5. Schedule 5: Reserved Matters: List of decisions requiring special approval or unanimous consent
6. Schedule 6: Valuation Methodology: Agreed methods for valuing partnership interests
7. Appendix A: Power of Attorney Template: Standard form for appointing representatives
8. Appendix B: Transfer Notice Template: Standard form for notifying transfer of partnership interests
Authors
Professional Services
Consulting
Legal Services
Accounting and Audit
Engineering
Architecture
Healthcare
Information Technology
Real Estate
Trading
Manufacturing
Construction
Education and Training
Financial Services
Legal
Compliance
Finance
Corporate Governance
Business Development
Operations
Risk Management
Corporate Secretariat
Management
Executive Leadership
Business Affairs
Strategic Planning
Managing Partner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Compliance Officer
Business Development Manager
Corporate Secretary
Partner
Senior Partner
Managing Director
Board Member
Operations Director
Finance Director
General Counsel
Company Secretary
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