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Co Owner Business Contract

Co Owner Business Contract Template for Germany

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Key Requirements PROMPT example:

Co Owner Business Contract

"I need a Co-Owner Business Contract for a new technology consulting firm in Berlin, with three equal partners contributing €50,000 each, starting operations in March 2025, with specific provisions for intellectual property protection and client confidentiality."

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Document background
The Co-Owner Business Contract is a crucial legal document used when two or more individuals or entities decide to jointly own and operate a business in Germany. This agreement is essential for establishing clear ownership rights, responsibilities, and operational procedures while ensuring compliance with German business law. It becomes particularly important when founding new businesses, restructuring existing ones, or bringing new co-owners into an established business. The document must align with German legal requirements, including the Handelsgesetzbuch (HGB) and Bürgerliches Gesetzbuch (BGB), while addressing practical aspects of business co-ownership such as capital contributions, profit sharing, management rights, and exit strategies. This contract serves as the foundational document governing the relationship between co-owners and provides crucial protection for all parties involved in the business venture.
Suggested Sections

1. Parties: Identification and details of all co-owners entering into the agreement

2. Background: Context of the business relationship and purpose of the agreement

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

4. Business Purpose and Scope: Detailed description of the business activities and objectives

5. Ownership Structure: Specification of ownership percentages and capital contributions

6. Capital Contributions: Details of initial and any required future capital contributions

7. Management and Decision Making: Governance structure, voting rights, and decision-making processes

8. Profit and Loss Distribution: Formula and timing for distributing profits and losses

9. Financial Management: Banking, accounting practices, and financial reporting requirements

10. Transfer of Ownership: Rules regarding sale, transfer, or encumbrance of ownership interests

11. Death or Incapacity: Procedures in case of death or incapacity of a co-owner

12. Non-Competition and Confidentiality: Restrictions on competitive activities and handling of confidential information

13. Dispute Resolution: Procedures for resolving disputes between co-owners

14. Term and Termination: Duration of the agreement and conditions for termination

15. Governing Law: Specification of German law as governing law and jurisdiction

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

Optional Sections

1. Intellectual Property Rights: Allocation of IP rights when the business involves significant intellectual property

2. Employment of Co-Owners: Terms for co-owners working in the business in operational roles

3. Insurance Requirements: Specific insurance obligations for the business and co-owners

4. Business Premises: Provisions regarding ownership or lease of business premises

5. External Financing: Procedures for obtaining and managing external financing

6. Succession Planning: Detailed provisions for business succession beyond basic death/incapacity

7. Digital Assets and Online Presence: Management and ownership of digital assets and online accounts

8. Environmental Compliance: Special provisions for businesses with environmental impacts

Suggested Schedules

1. Schedule 1 - Initial Capital Contributions: Detailed list of each owner's initial capital contributions, including valuations

2. Schedule 2 - Business Plan: Initial business plan and strategic objectives

3. Schedule 3 - Management Structure: Detailed organizational chart and management responsibilities

4. Schedule 4 - Financial Procedures: Detailed accounting procedures and financial reporting requirements

5. Schedule 5 - Intellectual Property Register: List of all intellectual property owned by the business

6. Appendix A - Shareholders' Contact Information: Complete contact details for all co-owners

7. Appendix B - Bank Account Details: Business banking information and authorized signatories

8. Appendix C - Required Insurance Policies: List of required insurance coverage and minimum amounts

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Business
Business Day
Business Hours
Business Plan
Capital Account
Capital Contribution
Company
Confidential Information
Co-Owner
Deadlock
Default Event
Effective Date
Encumbrance
Fair Market Value
Financial Year
Force Majeure
Governing Law
Initial Capital
Intellectual Property Rights
Management Board
Material Breach
Net Profit
Operating Expenses
Ownership Interest
Parties
Partnership
Permitted Transfer
Principal Place of Business
Profit Share
Related Party
Reserved Matters
Resolution Process
Share
Shareholder Resolution
Tag-Along Rights
Territory
Third Party
Transfer
Voting Rights
Working Capital
Clauses
General Interpretation
Business Purpose
Term and Duration
Ownership Structure
Capital Contributions
Additional Funding
Management Rights
Decision Making
Voting Rights
Profit Distribution
Loss Allocation
Financial Management
Banking Arrangements
Accounting Records
Business Operations
Confidentiality
Non-Competition
Non-Solicitation
Intellectual Property
Transfer of Interests
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Death and Incapacity
Retirement
Termination
Exit Provisions
Valuation
Dispute Resolution
Force Majeure
Representations and Warranties
Insurance
Indemnification
Notices
Amendment
Assignment
Severability
Entire Agreement
Governing Law
Jurisdiction
Relevant Industries

Professional Services

Retail

Manufacturing

Technology

Healthcare

Hospitality

Construction

Real Estate

Consulting

Creative Industries

E-commerce

Agriculture

Financial Services

Education

Transport and Logistics

Relevant Teams

Legal

Finance

Corporate Governance

Executive Leadership

Risk and Compliance

Business Development

Operations

Administration

Company Secretariat

Relevant Roles

Business Owner

Managing Director

CEO

CFO

Legal Counsel

Corporate Lawyer

Business Development Manager

Partnership Manager

Company Secretary

Finance Director

Operations Director

Compliance Officer

Risk Manager

Board Member

General Counsel

Industries
Bürgerliches Gesetzbuch (BGB): German Civil Code - Provides the fundamental framework for contract law, including formation, execution, and termination of contracts, as well as general rights and obligations of contracting parties
Handelsgesetzbuch (HGB): German Commercial Code - Governs commercial partnerships and business relationships, including specific provisions for different types of business associations
Gesellschaftsrecht: Company Law - Regulates the formation, structure, and operation of business entities, including partnerships and co-ownership arrangements
GmbH-Gesetz: Limited Liability Company Act - Important if the co-ownership is structured as a GmbH, governing shareholder relationships and company management
Steuerrecht: Tax Law - Relevant provisions for business partnerships, including income tax, trade tax, and VAT obligations for co-owners
Handelsregisterverordnung (HRV): Commercial Register Regulation - Requirements for business registration and documentation of ownership structures
Gewerbeordnung: Trade Regulation Act - Governs business operations and licensing requirements
Partnerschaftsgesellschaftsgesetz (PartGG): Partnership Company Act - Specific regulations for professional partnerships if the co-owners are practicing professionals
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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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