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Limited Liability Partnership Deed
"I need a Limited Liability Partnership Deed for a Qatar-based accounting firm with three equal partners, where we require specific provisions for profit sharing based on individual partner performance and client acquisition, with the partnership planned to commence on March 1, 2025."
1. Parties: Identification of all partners entering into the LLP agreement, including their full legal names, addresses, and nationality
2. Background: Context of the partnership formation, including the business purpose and intent of the parties
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules for interpreting the document
4. Formation and Name: Declaration of partnership formation, registered name, and effective date
5. Business Purpose: Detailed description of the partnership's business activities and objectives
6. Duration: Term of the partnership and conditions for continuation or termination
7. Capital Contributions: Details of initial and subsequent capital contributions from each partner
8. Partnership Interests: Allocation of ownership interests and voting rights among partners
9. Management Structure: Governance framework, management responsibilities, and decision-making processes
10. Partners' Rights and Obligations: Detailed outline of partners' rights, duties, and responsibilities
11. Profit and Loss Distribution: Method and timing of profit and loss allocation among partners
12. Banking and Financial Matters: Banking arrangements, financial management, and accounting procedures
13. Meetings and Resolutions: Procedures for partner meetings and decision-making processes
14. Transfer of Partnership Interests: Rules and restrictions regarding the transfer of partnership interests
15. Withdrawal and Retirement: Procedures for partner withdrawal or retirement from the partnership
16. Dissolution and Winding Up: Circumstances and procedures for partnership dissolution and liquidation
17. Governing Law and Jurisdiction: Specification of Qatar law as governing law and jurisdiction for disputes
1. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property, necessary when the partnership owns or develops IP
2. Non-Competition and Confidentiality: Restrictions on competitive activities and protection of confidential information, important for partnerships with sensitive information or market competition
3. Islamic Finance Compliance: Specific provisions ensuring compliance with Shariah principles, required for Islamic finance-oriented partnerships
4. Foreign Investment Provisions: Additional provisions required when foreign partners are involved, addressing compliance with Qatar's foreign investment laws
5. QFC-Specific Provisions: Special provisions required if the partnership is registered within the Qatar Financial Centre
6. Digital Assets and Cryptocurrency: Provisions regarding digital asset ownership and trading, necessary for partnerships involved in digital assets
7. Force Majeure: Provisions dealing with unforeseen circumstances affecting partnership operations
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions, including valuations of non-cash contributions
2. Schedule 2: Partner Information: Detailed information about each partner, including contact details and appointed representatives
3. Schedule 3: Business Plan: Initial business plan and strategic objectives of the partnership
4. Schedule 4: Management Procedures: Detailed procedures for day-to-day management and operational decisions
5. Schedule 5: Profit Sharing Ratios: Detailed breakdown of profit and loss sharing arrangements
6. Appendix A: Required Regulatory Approvals: List of regulatory approvals and licenses required for operation
7. Appendix B: Form of Partner Resolution: Template for partner resolutions and voting procedures
8. Appendix C: Valuation Methods: Agreed methods for valuing partnership interests and assets
Authors
Applicable Law
Articles of Partnership
Authorized Representative
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commercial Register
Confidential Information
Default Event
Defaulting Partner
Effective Date
Encumbrance
Financial Year
Force Majeure Event
Foreign Partner
Governing Law
Initial Capital
Intellectual Property Rights
Local Partner
Management Committee
Managing Partner
Material Breach
Ministry
Non-Competition Period
Operating Account
Ordinary Resolution
Partner
Partnership
Partnership Interest
Partnership Property
Profit and Loss Account
QAR
Qatar
Regulatory Approvals
Reserved Matters
Resolution
Share Capital
Special Resolution
Territory
Transfer
Unanimous Resolution
Voting Rights
Winding Up
Working Capital
Partnership Formation
Duration
Business Purpose
Capital Contribution
Share Capital and Partnership Interests
Partner Rights and Obligations
Management and Control
Partner Meetings
Voting Rights
Financial Matters
Profit and Loss Distribution
Banking Arrangements
Accounting and Audit
Partner Admission
Transfer Restrictions
Partner Exit
Default Events
Confidentiality
Non-Competition
Intellectual Property
Anti-Money Laundering
Foreign Investment
Islamic Finance Compliance
Tax Matters
Employment
Insurance
Force Majeure
Dispute Resolution
Governing Law
Notices
Amendment
Severability
Termination
Dissolution
Winding Up
Professional Services
Financial Services
Construction and Real Estate
Oil and Gas
Technology and Digital Services
Healthcare
Education
Consulting
Trading and Import/Export
Manufacturing
Hospitality and Tourism
Logistics and Transportation
Legal
Corporate Governance
Finance
Compliance
Risk Management
Business Development
Operations
Corporate Secretariat
Investment
Strategy
International Business
Managing Partner
Chief Executive Officer
Chief Financial Officer
Legal Director
Compliance Officer
Corporate Secretary
Business Development Director
Partnership Manager
Board Member
General Counsel
Finance Director
Operations Director
Risk Manager
Investment Manager
Senior Partner
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