Ownership and contributions
State who owns what percentage and what each owner put in, whether cash, equipment, or work. Say what happens if the company needs more money later.
Management and voting
Decide who runs the business day to day, which decisions need every owner’s approval, and how votes are counted.
Distributions and pay
Explain when profits are paid out, who receives them, and whether owners who work in the business are paid separately.
Transfers and buy-sell terms
Set rules for selling an ownership share, including whether the other owners get the first chance to buy and how the price is set.
Deadlock, departure, and death
Plan for owners who cannot agree, who leave, or who pass away. A clear exit process protects both the business and the owners’ families.
When to call a lawyer: Call a lawyer before you sign any agreement with co-owners, especially if the ownership split is uneven.
This guide is general information, not legal advice for your situation.