Limited partnership contract

Legal Legal - Work
1

I’ve been asked to rewrite the English version of a partnership agreement for a teacher and a school who essentially want to set up a profit sharing plan. The school doesn’t have a standard work contract with employees, much less a partnership agreement. The teacher is developing a whole new program, and the school is offering the teacher a 50% take on net profits from all students that join the new program, plus profits on future classes run by teachers that this teacher ends up training.

  1. Both parties are Taiwanese citizens.
  2. Both parties will get legal advice after the agreement is written up.
  3. I’m essentially rewriting an English document that will be translated into Chinese and the Chinese tranlsation will likely be the ruling document in case of any differences.

I’ve done a little research into partnership contracts and I think I have an adequate grasp of what elements will need to be included. But reading sample documents has brought up some serious questions I hope someone here would be kind enough to help with.

First- What laws on partnerships do I need to be worried about in Taiwan? I saw agreements to file certificates the state, etc. in the examples I was looking at, and I don’t think the school or the teacher want to do something like that.
Second- Should the contract even be considered a “partnership”? Is there another sort of contract that would be better for them? The school is the party using the word partnership and offering to share profits.

Thanks for any advice you can give.

2

I wouldn’t touch this with a ten foot pole unless you are a lawyer.

If they are talking about patching up the grammar, that’d be OK, but anything further should require some competent legal advice.

3

Oh, the document I’m rewriting is not going to be used as a legal document. It’s more like a mock-up that they’ll give to the attorney and he’ll use it to draft a real document.

It would help to know if they should use the words “limited partnership” or the equivalent Chinese, or if there is another sort of contract they could use to establish profit sharing of a very limited scope.