Legal Question in Business Law in California

need basic simple usiness contract

i am starting a new business with 3 others. we need a basic contract that we may use to outline the details. all parties are family members , with the exception on one man.

the 4 of us will each own 25% of the business. just need somthing easy to read that allows us to ''fill in the blanks''

my husband and I are providing the initial start up costs. the other 2 (my stepson and his roomate) will provide the ''know how'' and labor. can you suggest the proper contract that would cover us all legally? when the profits allow , we would want our start -up money paid back to us. i am not sure how much info should be put inthe contract.

just want to protect all involed and have a legal document.

any suggestions and where i can get this type of contract will be greatly appreciated!!!!!!! thanks a ton .....hey i still have 423 characters remaing oops 395.....can i use them later???????? LOL regards, JFM


Asked on 6/03/06, 8:10 pm

3 Answers from Attorneys
Terry A. Nelson Nelson & Lawless

Re: need basic simple usiness contract

You are not going to find a 'simple' form that actually does what you need, as distinct from what you think you want now. I virtually never approve clients forming a 'partnership' because of the unlimited liability for the actions of the other partners. You need to think ahead, and plan out what happens when a dispute arises in the future. Your documentation needs to prevent legal court battles then. A little money on legal fees now will prevent having to spend a fortune later.

Contact me if interested in doing this right.

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Answered on 6/05/06, 1:35 pm
Jonas Grant Law Office of Jonas M. Grant, A.P.C.

Re: need basic simple usiness contract

The other attorneys are correct; what you are attempting to do is too complicated to rely on whatever form you might fine online. You should perhaps consider incorporating or an LLC instead of a general partnership; you should hire an attorney to assist with this. If all of this sounds too expensive, I would suggest saving up until all of you together can start off on the right foot together. You should expect to pay $500 to 1500 for the legal advice and work you need.

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Answered on 6/05/06, 8:32 pm
Norman Gregory Fernandez, Esq. The Law Offices of Norman Gregory Fernandez & Associates

Re: need basic simple usiness contract

What you need is a partnership agreement. If you want it done right, give me a call and I will see about giving you a reasonable rate. It you do a fill in the blanks contract than that is what you will end up dealing with if you end up in a Court of law. You get what you pay for.

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Answered on 6/04/06, 1:16 am


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