When several people open a shop together as partners, put the contributions, profit sharing, who decides, who draws a salary and how to exit in a written agreement before opening
- Moderate value
- Evidence C
- Saves money
- Free
- Takes some hours
- Some willpower
In plain words
Without a written agreement, the law sets the rules for you. Decisions require unanimous agreement, profits are shared according to the money each person actually paid in, and the person who minds the shop every day by default draws no salary. If no partnership term was agreed, anyone may leave by giving the others notice a reasonable time in advance. If you want to change any of this, it must be written into the agreement beforehand.
Mentioned in
Translated from the Chinese original. Original book, section 12, tip 28. This section describes legal rules, mostly mainland Chinaโs. It is general information, not legal advice; for your own case, talk to a lawyer. Content may be out of date and rules differ by place. When you actually deal with an agency, a doctor or a court, follow what local officials, doctors and lawyers tell you. Disclaimer