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wallstreetesq., Attorney
Category: Business Law
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Experience:  10 years, Corp litigation, Of Counsel to several global and nationwide corporation
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i would like to get in to business with a car insurance broker

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i would like to get in to business with a car insurance broker as a partner, we need to make an aggrement. in the future i am planning to get a license my self and run an insurance agency on my own. i would like to make shure that in case of us pleat, i will get to keep the insurance lines with the insurance companies and also have an aggrement for one year with him for know. what is the basic things the aggrement should say, please advise.
Submitted: 4 years ago.
Category: Business Law
Expert:  wallstreetesq. replied 4 years ago.

you need a simple partnership agreement, with a non comptete agreement, and non solicit agreement, for one year.

 

 

The agreement will need to spell out specifically what expenses you will share and what profits you both will take, and who will have ownership of client lists etc.

 

The non compete and non solicit, is important as after the one year if he or you quit they will limit the places where they can compete against you, and taking your clients.

wallstreetesq., Attorney
Category: Business Law
Satisfied Customers: 16416
Experience: 10 years, Corp litigation, Of Counsel to several global and nationwide corporation
wallstreetesq. and 6 other Business Law Specialists are ready to help you
Customer: replied 4 years ago.
te person have another location where he conduct the business from, also the insurance lines issue,
Expert:  wallstreetesq. replied 4 years ago.

in the agreement, you should have access to the other location, and the insurance lines should be divided up by percentage, however since you are not licensed their may rules regarding access to them.

Customer: replied 4 years ago.
i am planning to get a license on my owen, can it be sad in the aggrement that if i would get a license then i had to keep lines or ???///
Expert:  wallstreetesq. replied 4 years ago.
yes, it should be contingent on you getting the license, also you should consider creating a corporation together as partners, so you avoid persona liability and protect the business from any debts he may have closing the business down.

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