Legal Question in Business Law in Florida

Where would I find this contract?

Hello, I'm working on a project with a friend. He and his wife formed a corporation. I'm working closely with them. They want me to prepare a document stating that I will receive 25% of the net profit at the end of every year. Also that I'm to receive 25 % of the profit if this company should ever be sold. And I would like to add that I or a representative of mine has the right to check the books whenever I so choose. How would I go about doing this? I'm assuming that it is legal to do so. If it is how can I do this in an inexpensive way? And my last question does this document have to be Notarized? Thank you please answer when you get a chance. I will appreciate it.


Asked on 6/06/07, 3:29 pm

1 Answer from Attorneys
Johm Smith tom's

Re: Where would I find this contract?

You are in need of a shareholders' agreement and stock issuance letter or the actual certificates, depending on how the corporation was set up.

If you want this document to have legal effect, you should have an attorney prepare it. Corporate governance is complicated and something you throw together will most likely be difficult to enforce in court, and you are going to put your time/money into this company aren't you?

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Answered on 6/06/07, 4:07 pm


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