Profit Share Agreement (Property)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🪙 Profit sharing agreementBusiness activity
Exit fee or profit shareA profit sharing agreement is a contract between an employer and an employee in which the employer agrees to share profits with the employee. The agreement may specify how the profits will be shared, how often the payments will be made, and how the payments will be calculated.
The template highlights essential elements such as the names and details of the parties involved, the specific property or properties subject to the agreement, and the duration of the arrangement. It may also outline the financial contributions made by each party, whether in the form of capital, assets, or services, and any agreed-upon ratio or formula for distributing profits.
The agreement may define the types of profits to be shared, which could include rental income, capital gains, or proceeds from the eventual sale of the property. It may also cover unique circumstances, such as the treatment of expenses, tax considerations, or scenarios for early termination or extension of the agreement.
Furthermore, the template may include provisions on decision-making processes, dispute resolution mechanisms, confidentiality, and non-disclosure obligations. It is crucial for all parties involved to negotiate and agree upon these terms before signing the agreement, ensuring that everyone understands their rights, responsibilities, and expectations in relation to the property investment or development.
Ultimately, the Profit Share Agreement (Property) template provides a legally binding framework that safeguards the interests of all parties involved, ensuring fair and equitable distribution of profits in accordance with UK law.
How it works
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Book your personalised demo now
Similar legal templates
TUPE Change of Employer Notice Due To Intra-group Reorganisation
An intra-group reorganization typically occurs when there is a restructuring within a group of companies, where businesses are moved or consolidated under a different legal entity within the same group. This template covers the legal requirements and necessary steps to inform affected employees about such an organizational change.
The template likely provides a framework for drafting a formal written notice to be sent to employees. It outlines the relevant details of the transfer, including the current employer, the proposed new employer, and the effective date of the transfer. Additionally, the template may address the employees' rights and protections under TUPE, ensuring that they are not disadvantaged by the transfer and their existing terms and conditions of employment are preserved.
This template serves as a practical tool for employers or legal professionals to comply with the legal obligations imposed by TUPE when informing employees of an intra-group reorganization. It helps ensure transparency, efficiency, and compliance throughout the transfer process, thereby safeguarding employees' rights and maintaining a smooth transition of employment.
Publisher
Genie AIJurisdiction
England and WalesTeaming agreement (Tender Preperation and Submission)
The template will typically define the roles and responsibilities of each team member, addressing important aspects such as the contributions expected from each member, the allocation of financial resources and risks, and the collaborative measures to ensure a successful tender submission.
Key provisions may include confidentiality and non-disclosure agreements to protect sensitive commercial information shared within the team, provisions on intellectual property rights, dispute resolution mechanisms, and policies for decision-making within the consortium.
The template will also likely cover the specific requirements related to the tender preparation and submission process. This may include provisions on pre-bid meetings, preparation timelines, requirements for submitting the tender document, and any subsequent negotiations or revisions necessary during the tender process.
Overall, the Teaming Agreement (Tender Preparation and Submission) under UK law serves to establish a legally binding framework for disparate parties to collaborate effectively, leveraging their collective expertise and resources to improve their chances of success in securing a tender contract while complying with UK legal requirements.
Publisher
Genie AIJurisdiction
England and WalesTechnology Engineer Contract
This Technology Engineer contract template is designed for a commercial technology engineering organisation (or an individual technology engineer) to use when contracting out their skills and services in exchange for payment. This contract sets out the type of technology engineering and technology-engineering-related services to be completed by the technology engineer on behalf of the client, with consideration for expectations around quality and delivery timescales, as well as any mitigating circumstances. This contract allows for payment to be made by the client to the technology engineering firm or individual technology engineer on a weekly or monthly basis but can easily be edited to account for other payment schedules and could be altered to include bonuses conditional on performance. It can also be fully customised with the details of the two parties and the duration of the contract and can be printed, downloaded and edited freely as part of our mission to open source business legals. This is a template for contractors who fit outside of the UK's off-payroll working rules (IR35).
