The Co-Founder Partnership Agreement is a critical legal document used when two or more individuals decide to establish a business venture together in the United Arab Emirates. This agreement serves as the foundational document that governs the relationship between co-founders and sets clear expectations regarding their rights, responsibilities, and obligations. It is particularly important in the UAE business context, where specific legal requirements must be met under the Federal Commercial Companies Law and related regulations. The document typically covers essential aspects such as equity distribution, capital contributions, management rights, profit sharing, intellectual property ownership, and exit provisions. It also addresses UAE-specific considerations such as foreign ownership restrictions, local partner requirements (if applicable), and compliance with UAE commercial laws. This agreement should be drafted and executed before or during the company formation process to prevent future disputes and ensure smooth business operations.
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1. Parties: Identification and details of all co-founders entering into the agreement
2. Background: Context of the partnership formation and brief description of the business venture
3. Definitions: Definitions of key terms used throughout the agreement
4. Partnership Structure: Legal form of partnership, ownership percentages, and capital contributions
5. Business Purpose: Detailed description of the business activities and objectives
6. Roles and Responsibilities: Specific duties and authorities of each co-founder
7. Capital Contributions: Details of initial and future capital contributions, including valuation of non-cash contributions
8. Profit and Loss Sharing: Distribution of profits and allocation of losses among co-founders
9. Decision Making: Voting rights and procedures for major business decisions
10. Intellectual Property Rights: Ownership and protection of IP created before and during the partnership
11. Confidentiality: Protection of confidential information and trade secrets
12. Non-Competition: Restrictions on competing activities during and after the partnership
13. Term and Termination: Duration of partnership and grounds for termination
14. Exit Provisions: Procedures for founder exit, including share transfer and valuation
15. Dispute Resolution: Procedures for resolving conflicts, including jurisdiction and applicable law
16. General Provisions: Standard legal provisions including notices, amendments, and severability
1. Vesting Schedule: Used when equity stakes are subject to time-based or milestone-based vesting
2. Technology Transfer: Required when specific technology or technical knowledge needs to be transferred to the partnership
3. International Operations: Included when business operations extend beyond UAE
4. Islamic Finance Compliance: Required when partnership needs to comply with Shariah principles
5. Employee Stock Option Pool: Included when partnership plans to offer equity incentives to employees
6. Family Succession: Required when addressing family business aspects and succession planning
7. Research and Development: Used when partnership involves significant R&D activities
8. Government Contracts: Included when partnership intends to engage in government contracts
1. Schedule 1: Capital Contributions: Detailed breakdown of each founder's capital contributions
2. Schedule 2: Business Plan: Initial business plan and financial projections
3. Schedule 3: Intellectual Property Register: List of all IP assets brought into or developed by the partnership
4. Schedule 4: Key Performance Indicators: Metrics for measuring founder performance and business success
5. Schedule 5: Vesting Schedule: Detailed vesting terms and conditions if applicable
6. Appendix A: Shareholders' Contact Details: Complete contact information for all founders
7. Appendix B: Company Formation Documents: Copies of required UAE company registration documents
8. Appendix C: Pre-existing IP Declarations: Declarations of IP owned by founders prior to partnership
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