Sprintlaw offers smart, simple and affordable legal solutions for small businesses and startups.
Profit Share
Agreements,
quick & easy.
Sprintlaw offers smart, simple and affordable legal solutions for small businesses and startups.
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(based on Google Reviews)
“They’ve helped us tremendously and are seriously knowledgeable and honest. Couldn’t recommend the crew at Sprintlaw more!” - Amit, Soul Burger
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Why do I need a Profit Share Agreement?
Profit Share Agreements set out the terms and conditions under which businesses agree to work together for a shared purpose. They’re important for protecting your rights, limiting your liability and avoiding unnecessary disputes.
A Profit Share Agreement drafted to meet the specific requirements of your business
Phone consultations with our expert lawyers
Fast turnarounds
Fixed-fee pricing
sprintlaw
A Profit Share Agreement is essential to ensure all parties involved are clear about their roles, responsibilities, and entitlements. Without a written agreement, disputes can arise over how profits are calculated, when payments are made, or what happens if the business underperforms. The agreement sets out the specific terms of the arrangement, reducing the risk of misunderstandings and offering legal protection if disagreements occur. It also provides a clear framework for handling profits, liabilities, and audit rights, giving all parties peace of mind that their interests are safeguarded.
The contents of a Profit Share Agreement will vary depending on the specific terms agreed upon by the parties. However, most agreements will include key provisions that clearly define the rights and responsibilities of each party. Typical clauses found in a Profit Share Agreement include:
Having a well-drafted Profit Share Agreement tailored to your specific situation is crucial for avoiding misunderstandings and protecting your interests.
Profits in a Profit Share Agreement can be calculated in different ways depending on the terms negotiated by the parties. Typically, profits are calculated based on net income, which is the revenue generated after deducting all expenses, such as operating costs, taxes, and other liabilities. The method for calculating profits must be clearly outlined in the agreement, so there’s no confusion about what amount is being shared. The agreement should also specify whether any additional deductions apply before profit-sharing, such as reserves or reinvestments into the business.
A well-drafted Profit Share Agreement includes several protections to safeguard the interests of all parties. These can include:
These protections help prevent conflicts and protect both the business and its stakeholders.
Yes, it’s highly recommended to have a lawyer draft or review your Profit Share Agreement. Every business and profit-sharing arrangement is unique, and a generic template may not address all the nuances of your specific situation. A lawyer will ensure that all critical details are covered, such as how profits are calculated, the roles of each party, and what happens in the event of disputes or business changes. By working with a lawyer, you can ensure the agreement is legally sound and offers the appropriate protections for all parties involved. This reduces the risk of future legal issues or misunderstandings.
Our fixed-fee Profit Share Agreement packages begin at $1900 + GST. This includes a Profit Share Agreement drafted to meet your needs, phone consultations with our expert lawyers, and a complimentary amendment to the final amendment we provide to you.
As an online law firm, we eliminate the headaches of paying us by the hour and finding time to meet with a lawyer in person. We communicate via phone, email and cloud conferencing — whichever suits you! We know you’re busy, so we’re only a click away.
You’ll be guided through this process by our expert lawyers, who are Australian-qualified and were trained at leading law firms. They left the traditional corporate law sphere to help us make legal services better. Our lawyers specialise in technology, intellectual property, contract drafting, corporate and commercial law.
Our law firm operates completely online, which means we can help you wherever you are in Australia. We work at The Commons Central – a cool co-working space in Chippendale, Sydney – but our lawyers often work flexibly across various locations.
why sprintlaw
We’re an award-winning, totally online law firm. Forget the hassle of meeting a lawyer face-to-face. Our top-trained lawyers are ready to help wherever you are in Australia.
how it works
our team
Our lawyers were recruited from Australia's top firms and use our custom-built technology to provide a better and more affordable legal service.
how it works
1 / Get a free quote
Our legally trained consultants will prepare a fixed-fee quote for you.
2 / Accept online
Accept your fixed-fee quote and e-sign our engagement letter.
3 / Speak with a lawyer
Our expert lawyers will talk you through your project via phone, video call or whatever suits!
That's it!
Receive your completed project, usually within 5 - 10 working days.
Adapt Leadership
“Can't speak highly enough of my experience with Sprintlaw - quality advice, fast and efficient responsiveness and a professional product.”
Kiindred
“I had a fantastic experience with Sprintlaw - it was easy, cost-effective and their lawyers provided very high quality advice. I could tell they really cared about my business.”
Soul Burger
“They’ve helped us tremendously and are seriously knowledgeable and honest. Couldn’t recommend the crew at Sprintlaw more!”