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Re: Advice On Partnership Agreement? by soniabrenda(f): 11:09pm On Nov 19, 2015
if the capital is contributed equally, the profit and losses will be shared equally too. secondly, if there is a writte
n agreement, the profits and losses will be shared according to the profit sharing ratio contained in the agreement.
Re: Advice On Partnership Agreement? by Billygee2u: 4:13am On Nov 20, 2015
TWOWAYMIRROR:
Hello, My name is Tony Buknor.
I am about going into a business partenership with a Boss of mine. He is the sole financier., i will be providing the technical and managerial expertise. This means that i will be running the business 100%, building the brand from a scratch..from choosing a name for the biz to creating logos,hiring of staff etc.
We agreed to do an agreement..so im asking all the sound business professionals and business lawyers in the house to help me iron out what they think will be a reasonable condition of the partnership, including the sharing of the profits /loss. And other important clauses of the agreement.
I know i will get a lawyer..but i seriously rely on niralenders to guide me on what my conditions should be on my part of the agreement.
Thanks
.TONY
Modified:..we are going into phone business...sales,repairs..on a big scale.in a shopping mall
cc: lalasticlala
Re: Advice On Partnership Agreement? by lonelydora: 6:12am On Nov 20, 2015
WhoBeThisMan:
First of all has the company been registered with corporate affairs commission? If yes, are you a registered share holder in the company? Very important.

Make sure everything is in black and white and use a lawer if need be for the agreement. I have had a very bitter experience from this kind of deal before because I was trying to be nice.

I am currently into partnership, but before we got to where we are now, to be truthful, I learnt the hard way. In my own case, I was the financier.

My experience.

1. Make sure your name is among the owners of the company in CAC. IF NOT, HE MAY CLAIM YOU ARE HIS EMPLOYEE IN THE COURT OF LAW SHOULD SOMETHING GO WRONG.

2. Make sure the sharing formula is clearly written in black and white. THE BEST TIME TO SHARE MONEY IS BEFORE THE MONEY COMES.

3. Make sure you understand every clause in the agreement. "I WILL" is different from "I SHALL".

4. Make sure you have a heart to absorb shock because everything may not work out the way you initially planned.

5. Contact a good lawyer to advise you more on it.

My brother, I learnt the hard way before getting to where we are now.

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Re: Advice On Partnership Agreement? by TWOWAYMIRROR: 6:23am On Nov 20, 2015
lonelydora:


I am currently into partnership, but before we got to where we are now, to be truthful, I learnt the hard way. In my own case, I was the financier.
Pls share a little of that hardway lessons...abegi

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Re: Advice On Partnership Agreement? by lonelydora: 7:19am On Nov 20, 2015
TWOWAYMIRROR:

It was registered...and No i was not listed as a shareholder

Your first mistake. Make sure you are included because the truth for now is, you are working for him. Your name is not part of the shareholder.
Re: Advice On Partnership Agreement? by Nobody: 2:39pm On Nov 21, 2015
TWOWAYMIRROR:

Who should i be reporting to then..remember he is the one providing the whole funds
well its a partnership so u just figure a way to make it a balance proportion
Re: Advice On Partnership Agreement? by Freaknasty: 6:00pm On Dec 10, 2015
I'm learning

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Re: Advice On Partnership Agreement? by gbemisolaw: 11:15pm On Dec 10, 2015
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