Expense and profit sharing agreement for joint venture....help
khushbu
(Querist) 12 July 2013
This query is : Resolved
sir,
i have started a new business between thee parties a, b and c
A) a will provide material but bear no other expense
b) b wil provide office/ premises
c) c will bear employee/ man power expenses
all the proceeds i.e sale will be divided among A-B-C in 40 /30 /30
now my question is if partners want a legally binding agreement among themselves regarding responsibilty of expense... what kind of contract / agreement / MOU / JOINT VENTURE AGREEMENT is advisable??
wiill it be called partnership coz... in partnership all exp & profit are joint and several. or MOU?
Please help..thank you
ajay sethi
(Expert) 12 July 2013
contact a local lawyer . get agreement drafted by him
khushbu
(Querist) 12 July 2013
thank you sir
Devajyoti Barman
(Expert) 12 July 2013
This is partnership and accordingly necessary deed may be executed with the help of a professional.
Rajendra K Goyal
(Expert) 12 July 2013
Avail the services of some professional to draft and guide.
prabhakar singh
(Expert) 12 July 2013
Well a partnership deed is required to be drafted and firm should better get registered with Registrar of Firms of area.
You need personal services of a business law practitioner or a CA.
R.K Nanda
(Expert) 12 July 2013
consult local lawyer.
