IN THE ABSENCE OF AN AGREEMENT, PARTNERS HAVE EQUAL SHARES

IN THE ABSENCE OF AN AGREEMENT, PARTNERS HAVE EQUAL SHARES

In Nigeria, if business partners fail to agree on a profit-sharing formula, the law kicks in. Guess what it says? Equal shares for everyone.

Yes, even if one partner brings 90% of the capital, does all the work, pulls the most weight or brings most clients.

This legal position shocks many. But it is what it is. Ignorance of the law is no excuse. Verbal agreement is risky. Tomorrow it becomes your word against your partner’s. Without a written Deed of Partnership, you could find yourself sweating blood for a business that rewards everyone the same, regardless of effort or input.

Don’t partner in vain. Protect your sweat and investment by insisting on a comprehensive Deed of Partnership drafted by an experienced Business Lawyer.

Not a downloaded template, but a customized contract that covers ownership, roles, profit sharing, dispute resolution, exit plan and more.

Business relationships can be exciting at the beginning, but things change when money, growth or tough times hit. That’s when clarity becomes priceless.

A well-structured Partnership Agreement will protect your share, preserve peace and prevent betrayal.

Business is sweet, but partnership without clarity is bitter. When the money starts flowing, the arguments often begin, and the law won’t care who worked more. It will only care what you agreed.

Don’t work like an elephant and eat like an ant.
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APEX CHAMBERS, Business and Property Lawyers, Attorneys , Barristers, Solicitors, Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com