LLP Operating Agreement Template for Australia

1. Intellectual Property Rights: Addresses IP ownership and usage when the partnership deals with significant intellectual property

2. Non-Competition and Confidentiality: Detailed restrictions on partner competition and information handling for professional service partnerships

3. Insurance Requirements: Specific insurance obligations when required by industry or risk profile

4. International Operations: Additional provisions for partnerships operating across multiple jurisdictions

5. Technical Services Agreement: For partnerships providing specialized technical services

6. Professional Standards: For regulated professions or industries with specific compliance requirements

7. Employee Partnership Track: Details progression path for employees to become partners

8. Special Purpose Vehicles: Provisions for creating and managing subsidiary entities

1. Schedule 1: Partner Details: Complete information about initial partners including contact details and professional qualifications

2. Schedule 2: Capital Contributions: Detailed breakdown of each partner's initial and committed capital contributions

3. Schedule 3: Partnership Interest Register: Current register of partnership interests and ownership percentages

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

5. Schedule 5: Approved Business Plan: Initial business plan and strategic objectives

6. Schedule 6: Distribution Policy: Detailed profit distribution and drawing policies

7. Appendix A: Partnership Policies: Key operational policies and procedures

8. Appendix B: Forms and Notices: Standard forms for partnership administration