business partner agreement

[Chris Fethke]

Hi, my brother and I are new to investing. What kind of partnership form should we be looking at? Is there templates somewhere to look at?

[Curtis Bidwell]

I have a simple 1 page document I use with family.  And I have a 17 page attorney document that I use with non-family.  The issues are similar, but the level of detail grows the bigger and broader you get. 

Here's a few things to make sure are included: 

FORMATION

MEMBERSHIP

CAPITAL ACCOUNTS

ALLOCATION OF PROFITS, LOSSES AND DISTRIBUTIONS

MANAGEMENT

TRANSFER AND ASSIGINMENT OF LLC INTERESTS

BOOKS AND RECORDS

TAXATION

TERMINATION AND DISSOLUTION

AMENDMENTS

PM me and I'll connect you with the docs I use.