Legal Question in Business Law in India

I and my friend are planning to start a business in partnership for production of plastic components with a third person ,we decided the share to be 50%,25%,25%. Where 50% is of the third person who is investing all money and 25% each is of we two as the idea and production will be with us,but according to my friend with 25% share in 50/25/25 all the decision making power of the company will be with the 50% owner .so he wants to make it to 50-50 so that we have equal powers to make decisions of company where one of us will be acting for both of as as a 50% partner .what should we do?


Asked on 6/22/14, 11:47 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

23.06.2014

Dear Sir / Madam,

You should register a Partnership Agreement on 50% - 50% profit sharing basis.

Regards,

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Answered on 6/23/14, 3:12 am


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