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New Business

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1 New Business on Thu Sep 08, 2016 8:24 pm

tropzcatz


Arresto Menor
Hello all,

Tatlo po kaming magkakaibigan nagtayo ng business. Sa isang tao lang nakapangalan yung business. Naglabas na kami ng pera parehas pero mas malaki yung share namin 2 kesa dun sa naka pangalan sa business. So kaming dalawa wala kaming pinanghahawakan na proof na nag share kami.

Question: Ano po gagawin namin para may proof kami na may share kami at may rights kami sa business? Thanks po.

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2 Re: New Business on Thu Sep 08, 2016 9:51 pm

Lunkan


Reclusion Perpetua
Why didn't you make contract concerning that BEFORE you started paying and working??

I recomend you do that as soon as possible. The later it's done, the harder it is to get an agreement...

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3 Re: New Business on Fri Sep 09, 2016 8:32 am

tropzcatz


Arresto Menor
Pwede po makahingi ng sample contract Sir Lunkan kasi di ko alam yung ilalagay ko dun sa contract para sa validity. Step by step na gagawin namin. Ang usapan kasi namin ay pareparehas kami ng ilalabas na pera. 3 weeks palang yung business sir.

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4 Re: New Business on Fri Sep 09, 2016 6:34 pm

Lunkan


Reclusion Perpetua
tropzcatz wrote:Pwede po makahingi ng sample contract Sir Lunkan kasi di ko alam yung ilalagay ko dun sa contract para sa validity. Step by step na gagawin namin. Ang usapan kasi namin ay pareparehas kami ng ilalabas na pera. 3 weeks palang yung business sir.
(Except when it's simple COMMON situations as for instance buying a house or a rent).
Business contracts are normaly some special, so I have written most of them myself. It don't need to be in "lawyers language".
Just write down what you agree:
/Investment (amounts or proportions).
/How to split the WORK.
/How to split the RESULT. Is there any difference in how to split if the result is plus or minus, or is someone guarant if there will be a loss.
/Ownership share sizes. That's important if selling.
/Deciding power shares.
/Majority decide or do all need to agree. It can be different for different decisions. If so it better be told.
/Any veto rights? Veto = Any or some partner can stop something NEW by saying No.
/Rules about geting OUT of the deal. Any restructions for instance not allowed to start COMPEETING business separate within X yours from leaving...

I have never bothered, but if it become a legal fight, it can be good to let some witnesses to sign they have witness corect persons SIGNED the contract. The witnesses don't even need to see the contract text, it's enough they see the partners SIGNING it.

It's valid between the PARTNERS anyway,
but NOTARIZE it to add some validity in contacts with OTHERS.
BUT writing something in contract DON'T change concerning others IF it don't follow the LAWS concerning the business type you have. For instance such laws tell who are responcible concerning depts and such with OTHERS. If your contracts say other, then it CAN'T be used in contacts with OTHERS, but it can be used to demand compensation BETWEEN the partners.

I suppouse there are samples you can use as INSPIRATION, but I don't know where to find them. (Them I wrote are in wrong language for you Smile

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5 Re: New Business on Sat Sep 10, 2016 8:24 am

tropzcatz


Arresto Menor
Many thanks sir Lunkan!

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6 Re: New Business on Sat Sep 10, 2016 1:14 pm

Lunkan


Reclusion Perpetua
You are welcome.

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7 Re: New Business Today at 2:15 am

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