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basic templates for partnerships

bcamp1973bcamp1973 subscriber Posts: 2
edited July 2008 in Business Planning
I`m looking at starting a company with one other person. 50/50 split. are there any good templates for rules of organization etc so we don`t have to do everything from scratch? I`d like to do as much as possible before getting the lawyer involved to keep costs as low as possible


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    robertjrobertj subscriber Posts: 0 Member
    I infer that this will be a different company from the one with 4 founders referenced in your previous posts.
    There are three areas to discuss:

    Ownership (equity) - sounds like you`ve decided
    Control (decision making)
    Disbursement of results (profits/loss)
    For openers, you should decide if all 3 will be 50/50.
    Then you will need to decide what structure you will use. Your choice will guide some of the documents to be created. I would shy away from a general partnership.
    At the very least - I would suggest a buy/sell agreement which defines what happens if one partner wants to leave. There are many examples on the net - but if you have decided on the key points, it shouldn`t take much for an attorney to finish it.
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