The Operating Agreement For Partnership LLC is a fundamental document required for establishing and operating a limited liability company partnership in Indonesia. This agreement is essential when two or more parties wish to form a business entity that combines the flexibility of a partnership with the liability protection of an LLC structure under Indonesian law. It must comply with Law No. 40 of 2007 and related regulations, including foreign investment restrictions if applicable. The document outlines critical aspects such as capital contributions, profit distribution, management rights, transfer restrictions, and dissolution procedures. It's particularly important in the Indonesian context due to specific local requirements regarding language, corporate governance, and foreign ownership limitations. The agreement serves as the primary reference point for managing partner relationships and business operations throughout the company's lifecycle.
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1. Parties: Identification of all partners/members and their contact details
2. Background: Context of the partnership formation and business objectives
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. Formation and Name: Details of LLC formation, business name, and registered address
5. Purpose and Business Scope: Defined scope of business activities and objectives
6. Capital Contributions: Initial and subsequent capital contributions, valuation methods
7. Ownership Interests: Distribution of ownership percentages and classes of interests
8. Management Structure: Management roles, voting rights, and decision-making processes
9. Meetings and Resolutions: Procedures for partner meetings and passing resolutions
10. Financial Affairs: Accounting practices, fiscal year, banking arrangements
11. Profit and Loss Distribution: Method of allocating profits and losses among partners
12. Transfer of Interests: Rules for transferring ownership interests and restrictions
13. Exit Provisions: Procedures for partner withdrawal, buyout terms
14. Dissolution and Liquidation: Process for dissolving the LLC and asset distribution
15. Confidentiality: Protection of company and partner confidential information
16. Dispute Resolution: Procedures for resolving conflicts between partners
17. Governing Law: Application of Indonesian law and jurisdiction
18. General Provisions: Miscellaneous legal provisions and boilerplate clauses
1. Foreign Investment Provisions: Required when foreign partners are involved, detailing compliance with Indonesian foreign investment laws
2. Intellectual Property Rights: Needed when the LLC owns or develops significant IP assets
3. Employment Matters: Required for LLCs with employees or detailed HR policies
4. Environmental Compliance: Necessary for businesses with environmental impact considerations
5. Related Party Transactions: Required when partners have other business interests that may interact with the LLC
6. Insurance Requirements: Detailed insurance obligations when business activities require specific coverage
7. Tag-Along and Drag-Along Rights: Optional provisions for larger partnerships with sophisticated exit strategies
8. Special Purpose Vehicle Provisions: Required when the LLC is formed for a specific project or venture
1. Schedule A - Capital Contributions: Detailed list of initial capital contributions by each partner
2. Schedule B - Ownership Interests: Current ownership structure and class of interests
3. Schedule C - Management Structure: Organizational chart and management positions
4. Schedule D - Business Plan: Initial business plan and projections
5. Schedule E - Approved Signatories: List of authorized signatories and their powers
6. Appendix 1 - Company Details: Corporate information, registration numbers, and addresses
7. Appendix 2 - Required Governmental Approvals: List of permits, licenses, and regulatory approvals
8. Appendix 3 - Valuation Methods: Agreed methods for valuing company interests
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Professional Services
Retail
Real Estate
Construction
Agriculture
Mining
Healthcare
Education
Financial Services
Hospitality
Transportation
E-commerce
Import/Export
Consulting
Relevant Teams
Legal
Corporate Secretariat
Finance
Compliance
Corporate Governance
Risk Management
Business Development
Operations
Investment
Executive Leadership
Administrative
Relevant Roles
Chief Executive Officer
Managing Director
Chief Legal Officer
Corporate Secretary
Legal Counsel
Chief Financial Officer
Business Development Director
Operations Director
Compliance Officer
Investment Manager
Partner
Managing Partner
Board Member
Company Director
Risk Manager
Corporate Governance Officer
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