₦airaland Forum

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

If you are based in d east you can contact me for a good,bonding and workable partnership agreement and subsequent incorporation of d company

aariwa:
If you are based in d east you can contact me for a good,bonding and workable partnership agreement and subsequent incorporation of d company

The incorporation has been taken care of

hello bro are you in the east?....am into phone repairs both hardware and software is a good bussiness if it is well organized you guys we make it depending on the location and enviroment.....can i collaborate with you guys ma email.busybrain689@gmail.com

Hi Mr. Bucknor, My name is lilliementor.I am a business marketing interpreter,a digital marketing consultant. I support the use of a lawyer to craft the agreement. I will give you a copy of a partnership agreement I did with one of my business parteners that is similar to yours for consideration.

You can sms me your email address to 08034530864. Please include your name in your sms.

maduahanna:
hello bro are you in the east?....am into phone repairs both hardware and software is a good bussiness if it is well organized you guys we make it depending on the location and enviroment.....can i collaborate with you guys ma email.busybrain689@gmail.com

Drop ur contact at 08162008949

still Looking for Advisers ....
phone number and email sharing found....

Bro; in as much i admire your zeal to be productive and possibly employ labor. i want to draw your attention to one thing.
EVERY INVESTOR HATES STORY!!! They all want to see the positive effect of their investment...

It takes the Grace of God to see an investor who will stand by you when things are not moving as documented.

my question here is, Do you have a shock absorber plan?? ie, what it takes to make the business a success

dont look at the money he want to invest, look at the profit he is expecting. Can i make it happen
Dont tell me 'By the Grace of God'... be realistic.

because if you start telling him stories tomorrow and he sees you changing or wearing your brothers new Jean, he has every right to call you names.

i have seen guys with zeal go into these kind of gestures and only a few (very few) where a success.

allow reality to overwhelm you, not the big money you want to touch... we all think and plan well when broke. only a hand ful execute good plans when money comes.

Lastly... ARE YOU Financially Disciplined??





if not.. this might be an END TIME AGREEMENT

End time advise

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.

Get a lawyer.

ademoladeji:

Is everything ok?

Hmm

No vex sir, but me na job i need

The same TONY BACKAN.......?

I am going into the same thing, so I can understand your concerns.
Whose idea is the business? From what you are saying, your boss is more of an Investor and less of a partner. If that is correct, you should treat him as such. Or you might consider him a co-founder, with a small percentage of shares. No more than 30% logically, depends on what you both agree on.
I suggest that you hire a lawyer to give you legal advice on this, and read the terms of the agreement CAREFULLY, over and over again.
Good luck

ok

Hi Op , in response to your article, I will advise you get a Lawyer who shall X-ray the nitty gritty of the business and be able to advise you properly.

I am a Lawyer myself but I can't start advising if I don't have holistic knowledge of the business.

However, factors the Lawyer will enquire about in your interviewing session will includes;

1) The amount of Capital involved.
2) Agreed profit sharing formula
3) Your level of expertise and hw much man hours you are to put into the business
4) Procedure for admitting new Partners
etc.
Cheers and goodluck in your new business endeavour.

Just make sure ur capacity in the business is equated to a fat share in the business... because normally irrespective of who control the personnel of a business, business wise, the one man with a very high percentage stake controls what goes around... Just be careful not to fall into a master servant relationship and since its a joint venture make it a point of note that u will not report to him else he will be exerting control over u. my 2cent

oga forget wen alaba dey dere

I suggest you should not be greedy.
There are still more possibilities for you guys in the future if this works well.
Ask him as the financier what he plans as your stake in the finance and risk of the business. As well as control over operations.
Discuss this as this should be part of the business discussion.
What he says will open your eyes, guide you, put things in perspective and ultimately allow you know what you are in for.

Lol

niggi4life:
End Time Partnership

wetin u smoke dis afternoon

Brytawon:
Is everything ok?

Dem don use op brain do trade-by-barter

Wish u guys success in ur business.


I like when great minds unite to build something productive.

Cheers

60% to him, 40% to you. in terms of profit. Except u resign, u can't be sacked tomorrow, in event of loss, he loses, u return jobless

ademoladeji:
Dem don use op brain do trade-by-barter

He's now a victim.

chinoify:
still Looking for Advisers ....
phone number and email sharing found....

Bro; in as much i admire your zeal to be productive and possibly employ labor. i want to draw your attention to one thing.
EVERY INVESTOR HATES STORY!!! They all want to see the positive effect of their investment...

It takes the Grace of God to see an investor who will stand by you when things are not moving as documented.

my question here is, Do you have a shock absorber plan?? ie, what it takes to make the business a success

dont look at the money he want to invest, look at the profit he is expecting. Can i make it happen
Dont tell me 'By the Grace of God'... be realistic.

because if you start telling him stories tomorrow and he sees you changing or wearing your brothers new Jean, he has every right to call you names.

i have seen guys with zeal go into these kind of gestures and only a few (very few) where a success.

allow reality to overwhelm you, not the big money you want to touch... we all think and plan well when broke. only a hand ful execute good plans when money comes.

Lastly... ARE YOU Financially Disciplined??





if not.. this might be an END TIME AGREEMENT

If I should use like button, you won't know that's me. LIKE

I was in your shoes some weeks ago pertaining to a work in my field but when I painstakingly looked at its pros and cons,I've no option than letting it slipped off my hands.

Think decisively op because most of such jobs are modern day slavery.