Restaurant Legal Form
Restaurant Legal Form
Date
Purpose of the Agreement
Effective Date
Name of Owner/Partner
Type of Business Entity
-
Sole Proprietorship
-
Partnership
-
Limited Liability Company (LLC)
-
Corporation
-
Restaurant Name
Address
Business License Number
Description of Services Offered
Target Market
Ownership Structure
The ownership of the restaurant shall be divided among the partners as follows: Partner A shall hold 60% ownership, while Partner B shall hold 40%. Each partner shall have an equal voice in major business decisions, with ownership percentages determining profit distribution.
Financial Contributions
Each partner agrees to make an initial capital contribution of
Operational Procedures
The restaurant shall be managed by Partner A, who will oversee daily operations and staffing. Major decisions, such as budget approval and menu changes, will require the consensus of both partners.
Compliance and Licenses
The restaurant shall obtain all necessary permits and licenses, including a food service license and health department approvals, prior to opening. It is the responsibility of both partners to ensure ongoing compliance with local, state, and federal regulations.
Dispute Resolution
In the event of a disagreement between partners, both parties agree to engage in mediation to resolve the issue amicably. If mediation fails, the dispute shall be settled through arbitration, with the decision being final and binding.
Amendments and Termination
Any amendments to this agreement must be made in writing and signed by all partners to be valid. The partnership may be terminated upon mutual consent or if one partner chooses to withdraw, provided that a 60-day written notice is given.
Signatures
By signing below, all parties acknowledge their understanding of and agreement to the terms outlined in this document. This agreement shall be effective as of the date signed by the last partner.
Partner Representative's Name:
Date Signed:
Restaurant Owner's Name:
Date Signed:
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