The Co-Ownership Business Agreement is essential for parties entering into shared business ownership arrangements in Nigeria. This document is particularly crucial when two or more parties wish to formalize their business relationship while clearly defining their respective rights, responsibilities, and obligations. The agreement must comply with Nigerian legislation, particularly the Companies and Allied Matters Act (CAMA) 2020, and should be used when establishing new joint ventures, formalizing existing business partnerships, or restructuring business ownership. It encompasses crucial elements such as capital contributions, profit sharing, management structure, decision-making processes, and exit strategies. This agreement is fundamental for protecting all parties' interests and preventing future disputes by providing clear guidelines for business operations and ownership arrangements.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identification and details of all co-owners entering into the agreement
2. Background: Context of the agreement, including business purpose and reason for co-ownership structure
3. Definitions: Definitions of key terms used throughout the agreement
4. Business Structure: Legal form of the business and ownership percentages
5. Capital Contributions: Initial and ongoing capital contributions of each co-owner
6. Management and Control: Decision-making processes and management structure
7. Profit and Loss Sharing: Distribution of profits and allocation of losses
8. Rights and Obligations: Detailed responsibilities and rights of each co-owner
9. Transfer of Ownership: Procedures for transferring ownership interests
10. Dispute Resolution: Process for resolving disputes between co-owners
11. Term and Termination: Duration of agreement and conditions for termination
12. Governing Law: Specification of Nigerian law as governing law
13. General Provisions: Standard legal provisions including notices, amendments, and severability
1. Non-Compete Clause: Restrictions on co-owners competing with the business
2. Intellectual Property Rights: Ownership and use of intellectual property
3. Death or Incapacity: Procedures in case of death or incapacity of a co-owner
4. Insurance Requirements: Mandatory insurance coverage for the business
5. Environmental Compliance: Environmental obligations and compliance requirements
6. Employee Management: Procedures for hiring, firing, and managing employees
7. Foreign Investment Provisions: Special provisions if any co-owner is a foreign investor
8. Digital Assets Management: Ownership and management of digital assets and online presence
1. Schedule 1: Business Plan: Detailed business plan including objectives and strategies
2. Schedule 2: Asset Register: List of all business assets and their ownership status
3. Schedule 3: Initial Capital Contributions: Detailed breakdown of each owner's initial contribution
4. Schedule 4: Management Structure: Organizational chart and management responsibilities
5. Schedule 5: Bank Account Details: Details of business bank accounts and authorized signatories
6. Appendix A: Valuation Method: Agreed method for valuing business interests
7. Appendix B: Required Consents: List of necessary regulatory approvals and licenses
8. Appendix C: Form of Transfer Notice: Template for notice of transfer of ownership interest
Find the exact document you need
Co Owner Business Contract
A Nigerian law-governed agreement establishing the terms and conditions of business co-ownership between multiple parties.
Download
Co Ownership Business Agreement
A Nigerian law-governed agreement establishing the terms and conditions for joint business ownership and operation between multiple parties.
Download
Property Co Ownership Agreement
A Nigerian law-governed agreement establishing rights and responsibilities between multiple parties who jointly own a property.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)