I want to draft a partnership agreement between two persons for starting a manufacturing business. Partner A will provide technical know-how and will be responsible for operations of the business. Partner B will invest the funds required upto 100% and will provide factory/manufacturing plant . Partner A will be entitled for 15% profit from the said business and will also receive salary amounting to 1.5 lakh per annum. Partner B will get 85% of remaining profit from the business. I need advise on below points-
Q1. Whether there can be a capital clause where full 100% profit is invested by one partner and other partner is contributing technical knowledge and his service.
Q2. If I draft such agreement and get it executed then in future if both partners want to register LLP/Pvt Lt company, how will registration happen? Will there be any problem in submission of LLP form online if only one partner is contributing money and other is contribution knowledge?
Q3. How shall I draft Dissolution clause, as partner A wants to reinvest his share in business and at the time of dissolution he wants his accumulated share from the business.
Q4. Also suggest other clauses which can be included in the agreement to protect the interest of both the parties.
