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Can Two People In Different Countries Enter A Partnership? Please Help - Business - Nairaland

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Can Two People In Different Countries Enter A Partnership? Please Help by Uchenaija: 7:22am On Dec 25, 2017
Please business gurus, lawyers and professionals in this honourable forum I need you to look into this for me.

How can two people in different countries enter into a partnership without physically seeing each other? and how can they make sure each party is protected?

If you have any idea how that can work please tell me.

Thank You.
Re: Can Two People In Different Countries Enter A Partnership? Please Help by SOFTENGR: 7:58am On Dec 25, 2017
Uchenaija:
Please business gurus, lawyers and professionals in this honourable forum I need you to look into this for me.

How can two people in different countries enter into a partnership without physically seeing each other? and how can they make sure each party is protected?

If you have any idea how that can work please tell me.

Thank You.
You need to be specific. What's the partnership about?
Re: Can Two People In Different Countries Enter A Partnership? Please Help by Frenchkiss564: 8:06am On Dec 25, 2017
With my little knowledge of the Law it is very possible you enter into partnership business with a partner outside Nigeria that's one of the advantages of the Internet.

However it is expedient you put in your partnership agreement the jurisdiction that would handle disputes is it Nigeria where you are resident or where your partner resides.

In situations like this your surest bet is to put arbitration clause in your agreements.
Re: Can Two People In Different Countries Enter A Partnership? Please Help by Uchenaija: 8:09am On Dec 25, 2017
SOFTENGR:

You need to be specific. What's the partnership about?

He is an investor trying into invest into my business idea and we need to write agreement and all but he resides outside the country
Re: Can Two People In Different Countries Enter A Partnership? Please Help by Uchenaija: 8:17am On Dec 25, 2017
Frenchkiss564:
With my little knowledge of the Law it is very possible you enter into partnership business with a partner outside Nigeria that's one of the advantages of the Internet.

However it is expedient you put in your partnership agreement the jurisdiction that would handle disputes is it Nigeria where you are resident or where your partner resides.

In situations like this your surest bet is to put arbitration clause in your agreements.

IF I understand, we can enter an electronic partnership agreement.

The business is based in Nigeria so I guess the jurisdiction to handle dispute would be Nigeria.

Can you explain a little what you mean by arbitration clause?

Apart from the legal backing of signing agreement, that means the partner outside the country would only count on trust to receive his profits from the business, is it?

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Re: Can Two People In Different Countries Enter A Partnership? Please Help by Frenchkiss564: 8:57am On Dec 25, 2017
Uchenaija:


IF I understand, we can enter an electronic partnership agreement.

The business is based in Nigeria so I guess the jurisdiction to handle dispute would be Nigeria.

Can you explain a little what you mean by arbitration clause?

Apart from the legal backing of signing agreement, that means the partner outside the country would only count on trust to receive his profits from the business, is it?

Because of the tedious and time consuming nature of trials in the traditional court systems, alternative dispute resolution was introduced and for it to be valid it is always advisable for parties to put it expressly in their partnership agreement that in case of dispute they need not go to court, both parties can agree on arbitrators to use. Lagos for instance has an arbitration house.

And the partner abroad can appoint an agent here in Nigeria to receive his profit for him, banks acts in this capacity.

Partnership agreement entered electronically is binding.

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Re: Can Two People In Different Countries Enter A Partnership? Please Help by Uchenaija: 9:18am On Dec 25, 2017
Frenchkiss564:


Because of the tedious and time consuming nature of trials in the traditional court systems, alternative dispute resolution was introduced and for it to be valid it is always advisable for parties to put it expressly in their partnership agreement that in case of dispute they need not go to court, both parties can agree on arbitrators to use. Lagos for instance has an arbitration house.

And the partner abroad can appoint an agent here in Nigeria to receive his profit for him, banks acts in this capacity.

Partnership agreement entered electronically is binding.

Wow, I think this is just a perfect and easy to understand resolution to this challenge. I guess I can find my way around this with this answer. You rock, guy! Sincerely, thanks a million.

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