Santosh 02 March 2017

Business Agreement

Dear Sirs My friend and I have started gym with equal share of investment. Both of us orally agreed to equally share both profit n loss, investment and expenses. But most of the times he manages the gym. Now we want to enter into agreement with each other to avoid future conflicts that may arise while running the gym. Please help us to draft an agreement where he can maintain the gym along with 51% of profit and I can have 49% with an option to invest further. Please help us, any business agreement format in this regard is highly helpful. Thank you sirs Santosh

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Adv. Yogen Kakade (+ 91 9225510883) 02 March 2017

You need to execute a partnership deed and get it registered under the companies act. The basic draft is available anywhere online but the for putting the proper terms you need a legal expert for the purpose of drafting and execution.

Santosh 03 March 2017

Thank you for valuable advice. Can an agreement be entered into without registering it? Just like I have invested some money in his business and he has agreed to share the income earned from the business or from sale of equipments in case business is closed. Please provide yous suggestions. Thank you