An old client of mine has an idea for a boutique bar with an interesting twist.
He has been discussing the with the owners of a building and they now wish to join together to create the bar in the premises.
My client will be the managing director, in charge of business development and will provide his intellectual property and knowhow. The Property owners will have 2/3 of the units but will provide all the finance.
Our job is to:
- create a company to be the trustee of a unit trust;
- issue the units to the parties; and
- prepare a unit holder agreement to make it clear what the rights and responsibilities of the unit holders will be in this joint venture.
For legal documents for business ventures, see Michael Paterson & Associates