Free Business Co-Ownership Agreement

This Business Co-Ownership Agreement ("Agreement") is entered into by and between the following parties on this December 1, 2050:

• [YOUR NAME] of Denver, CO 80202

• Ena Cassin of Louisville, KY 40201

The parties agree to the following terms and conditions governing their co-ownership of [YOUR COMPANY NAME], a business formed under the laws of Colorado.

I. Ownership and Equity

1. Ownership Structure: The ownership of [YOUR COMPANY NAME] shall be divided as follows:

   • [YOUR NAME]: 50%

   • Ena Cassin: 50%

2. Capital Contributions: Each party has made or will make the following capital contributions:

   • [YOUR NAME]: $50,000 (financial capital)

   • Ena Cassin: $50,000 (financial capital)

II. Roles and Responsibilities

Each owner shall hold the following roles and responsibilities within [YOUR COMPANY NAME]:

III. Profit and Loss Distribution

The profits and losses of [YOUR COMPANY NAME] will be shared according to ownership percentages as outlined below:

• [YOUR NAME]: 50%

• Ena Cassin: 50%

Each party will receive distributions based on the percentage of ownership, and any business debts or liabilities will be borne in proportion to the same.

IV. Decision-Making and Voting Rights

1. Voting: Decisions shall be made by a majority vote based on ownership percentages.

   • For example, a decision requiring approval from both owners will be approved if the combined vote totals 51% or higher.

2. Matters Requiring Unanimous Consent:

   • Mergers or acquisitions of the business.

   • Selling more than 25% of the business assets.

   • Modifications to the equity structure.

V. Exit and Buyout Clause

1. Exit Clause: If an owner wishes to exit [YOUR COMPANY NAME], the following procedure shall apply:

   • The exiting owner must provide 90 days' written notice to the other owner(s).

   • The remaining owner(s) will have the right of first refusal to purchase the exiting owner’s share.

2. Buyout Price: The buyout price for an owner's share will be determined by an independent appraiser or by mutual agreement at the time of the exit.

VI. Dispute Resolution

In the event of a dispute, the owners agree to:

1. Mediation: Attempt to resolve the dispute through mediation within 30 days of notification of the dispute.

2. Arbitration: If mediation fails, the dispute will be settled by binding arbitration according to the rules of the American Arbitration Association (AAA).

VII. Termination

This Agreement shall remain in force until terminated under any of the following conditions:

• By mutual consent of all co-owners.

• Upon dissolution of the business.

• Upon the exit or death of any owner.

In the event of termination, the remaining business assets shall be liquidated, and the proceeds distributed to the owners in proportion to their ownership stakes.

Conclusion

This Agreement serves as the guiding document for the co-ownership of [YOUR COMPANY NAME]. The parties acknowledge that they have read, understood, and agree to the terms set forth herein.

Signed on December 1, 2050:

[YOUR NAME]

Ena Cassin

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