By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policyfor more information.
We create a bespoke document based on
your instructions.
A$
2,200
Create the document yourself with 30 mins help from a lawyer.
Create the document yourself with 2 hours help from a lawyer.
A$
2,200
Create the document yourself with 30 mins help from a lawyer.
Create the document yourself with 2 hours help from a lawyer.
A$
2,200
Lawyer Assisted is not yet available for this document.
Create the document yourself with 2 hours help from a lawyer.
Most Popular
Create the document instantly yourself by entering the key details.
A$
1,540
Most Popular
Create the document instantly yourself by entering the key details.
A$
1,540
Self Service is not yet available for this document.
1,540
Please turn your device to landscape mode to begin creating your document.
Please turn your device to landscape mode to begin creating your document.
Please turn your device to landscape mode to begin creating your document.
Please turn your device to landscape mode to begin creating your document.
Our comprehensive automated Partnership Agreement [Australian Business] uses Embedded Lawyer-Logic to generate a detailed and robust legal document that serves as the cornerstone for defining and regulating the partnership dynamics in the operation of a business.
The following features are standard inclusions:
✅ Either a full-form, top-tier-quality Partnership Agreement can be generated catering for up to 100 partners (in other words, capacity for more partners than you are ever likely to have in your business);
✅ Meticulously crafted contract that establishes the foundational structure and guidelines for a general partnership to standards that meet or even exceed those of the largest Australian and international law firms;
✅ Flexibility is provided for partners to appoint a managing partner, if desired, to oversee and coordinate day-to-day operations effectively;
✅ Clear provisions are outlined to facilitate the smooth transfer of partnership interests when necessary, ensuring a streamlined process that safeguards the interests of all parties involved;
✅ Grants the partners significant control over key decision-making processes, empowering them to collectively shape the strategic direction and operational aspects of the business; and
✅ Incorporates a robust deadlock resolution mechanism, to address potential impasses or disagreements, emphasising the utilisation of mediation as a fair and impartial means of finding resolutions that uphold the partnership’s integrity and long-term success.
With our user-friendly interface and intuitive automation features, this Partnership Agreement streamlines the process of establishing a strong and mutually beneficial partnership, providing partners with a solid foundation for their shared business venture.
Enter the code WHen you pay full price to Purchase one of the following Self Service documents:
Re-Enter the code at checkout each time you buy the following documents to get a discount:
Key Person Insurance or Buy/Sell Insurance (or in the case of a Partnership Agreement, Partnership Buyout Insurance) provides the funds needed for the remaining owners of a business/trust to:
✅ Takeover or purchase the exiting owners share; and/or
✅ Have access to the required funds to replace the Key Person or recover from the loss of the Key Person from the business …
In the event of their death, total and permanent disability, or severe illness/trauma such as heart attack, stroke, cancer and/or paraplegia.
This type of insurance cover helps the business continue running with minimal disruption.
For the departing person or their estate, this insurance assists them to receive the agreed (normally market value) of their shareholding in return for transferring their business share to the remaining owners of the business/trust, or terminating their Employment / Independent Contractor Agreement.
The Best practice within a Shareholders' or Unitholders' Agreement is to include terms that ensure life, permanent disability + trauma insurance is taken out in relation to all of the Securityholders.
The company or unit trust pays the annual insurance premiums.
Then, if a Securityholder is required to offer its securities for sale to the remaining Securityholders as a result of death, permanent disability + trauma sufficient to be covered by the insurance policy, the proceeds of the insurance policy are used to assist the remaining Securityholders in buying those securities.
The directors or trustee/s determine the amounts for the insurance policy from time to time, with the consent of Key (that is the majority or controlling) Securityholders.
In our Shareholders' or Unitholders' Agreement, by default, the death or incapacity of a Securityholder will not trigger a right for the other parties to buy out that Securityholder.
If you choose to add our Best Practice Buy/Sell Insurance provisions to the Shareholders' or Unitholders' Agreement, then death/incapacity will be added as a trigger event requiring the affected party to offer its securities for sale to the remaining Securityholders.
The potential for future ownership changes, and triggered tax implications {including income tax, capital gains tax, and fringe benefits tax) should be considered before final arrangements are made.
Credits:
This FAQ was created by James D. Ford GAICD | Principal Solicitor, Blue Ocean Law Group℠.
Important Notice:
This FAQ is intended for general interest + information only.
It is not legal advice, nor should it be relied upon or used as such.
We recommend you always consult a lawyer for legal advice specifically tailored to your needs & circumstances.
Subscribe for FREE access to our growing list of [350+] personal and/or business legal documents.
View Pricing
Close
