Attention: California Lawyer
Involved in a partnership
that was formed on a verbal agreement in 2005. Nothing in writing. A partner is agreeing to leave the venture. I need a letter/document from an attorney, essentially a detailed template, which the I & the other partner will sign and serve as a legal document for the following:
1. Other party releasing their 1/3% interest in the venture to me
2. Other party releasing right to 1/3% monthly revenue (compens) from the venture from the date of signing to me.
3. Other party's give up the right for family members from having any %interest, rights, compensation, decision making power in the venture to me (a statement may be necessary for this)
4. Other party's release of their 1/3% interest in any assets , completed projects, intellectual assets related to the operation of the business
to me. Provide area for me to list.
5. I need a example of a buyout statement which might be necessary
6. other - issues I may have overlooked???