How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask socrateaser Your Own Question
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 39027
Experience:  Retired (mostly)
Type Your Business Law Question Here...
socrateaser is online now
A new question is answered every 9 seconds

Attention California Lawyer Involved in a partnership that

Customer Question

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???
Submitted: 8 years ago.
Category: Business Law
Expert:  socrateaser replied 8 years ago.

This site cannot provide legal representation. We "just answer" questions about the law. No one here can draft a partnership buy-sell agreement for you here without violating California law.


If you post your proposed agreement here, I can comment, and make suggestions, but that is the limit of the possible involvement.


Sorry for any confusion. If you would like a refund, please see