tiktok���˰�

The 80 20 Partnership Agreement is a specialized legal document used when establishing a partnership where one partner holds a dominant position with an 80% stake while the other maintains a 20% minority interest. This arrangement is particularly common in Nigerian business contexts where one partner provides the majority of capital or resources while the other contributes expertise, local knowledge, or operational capabilities. The document ensures compliance with Nigerian partnership laws, including the Partnership Act and Companies and Allied Matters Act (CAMA) 2020, while providing clear guidelines for profit distribution, decision-making processes, and partner responsibilities. It's especially useful in situations where partners want to formalize an unequal but mutually beneficial business relationship while protecting both parties' interests and establishing clear operational parameters.

1. Parties: Identification and details of the partners entering into the 80/20 partnership agreement

2. Background: Context of the partnership formation and brief description of the business purpose

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

4. Partnership Formation: Declaration of partnership formation, business name, and commencement date

5. Business Purpose: Detailed description of the partnership's business activities and objectives

6. Capital Contributions: Details of initial and ongoing capital contributions from each partner

7. Profit and Loss Distribution: Specific terms of the 80/20 profit-sharing arrangement and loss allocation

8. Management and Control: Partnership management structure and decision-making processes

9. Partners' Duties and Obligations: Responsibilities and commitments of each partner

10. Banking and Financial Matters: Banking arrangements, financial records, and accounting procedures

11. Partner Meetings: Procedures for regular and special partner meetings

12. Restrictions on Partners: Non-compete and confidentiality obligations

13. Duration and Termination: Term of partnership and conditions for termination

14. Dissolution and Winding Up: Procedures for partnership dissolution and asset distribution

15. Governing Law: Specification of Nigerian law as governing law

16. Dispute Resolution: Mechanisms for resolving partnership disputes