Business Operating Agreement Template for Australia

1. Intellectual Property Rights: Addresses ownership and protection of IP when the business involves significant intellectual property

2. Confidentiality: Detailed confidentiality provisions when dealing with sensitive information or trade secrets

3. Non-Competition: Restrictions on competitive activities, used when protecting business interests is crucial

4. Employment of Members: Terms for members working in the business, included when members take active operational roles

5. Insurance Requirements: Specific insurance obligations, included for high-risk businesses or regulatory requirements

6. Technology and Data Protection: Digital asset management and data protection procedures for technology-focused businesses

7. Environmental Compliance: Environmental obligations for businesses with environmental impacts

8. Foreign Ownership Provisions: Special provisions when foreign ownership is involved

1. Schedule 1 - Member Details: Detailed information about each member including contact details and ownership percentages

2. Schedule 2 - Initial Capital Contributions: Itemized list of initial capital contributions including valuations

3. Schedule 3 - Business Plan: Initial business plan and strategic objectives

4. Schedule 4 - Management Structure: Detailed organizational chart and management responsibilities

5. Schedule 5 - Financial Procedures: Detailed accounting procedures and financial management protocols

6. Schedule 6 - Approved Business Activities: List of approved business activities and any restrictions

7. Appendix A - Valuation Methods: Agreed methods for business and share valuation

8. Appendix B - Meeting Procedures: Detailed procedures for conducting meetings and maintaining records