Partnership Question

[Cal166]

Let's say you are in a partnership in a business and for bonus, if you bring in a new client, you will received $20% of annual amount at the end of the year. The remainder 80% will be split equally. My question is that, would it be fair for the other partner if it's allow for that 20% to continue as long as the business is in place or should it be a one time thing?

 

[olds]

What's up with your sig?

 

[Cal166]

I think when it got migrated over to VB, the coding didn't go well. Never bother to update it.

 

[D1gger]

This should have been spelled out in the partnership agreement.
If the initial partner is responsible for customer support and ensuring that the customer stays with the business, it could be argued that the 20% should continue.
If on the other hand both partners are equally responsible for servicing the customer it could be argued that the 20% should apply to the first year only.
Either way this could be a deal breaker for the partnership and should have been agreed to up front in the partnership agreement.
My experience with partnerships is that they will always end (and usually end badly), but a good agreement will smooth things over and help the partnership last longer.