Partnership Agreement, has anyone made one?

[maipenrai]

I have seen many ideas on here, for agreements between detectorest and property owners, but has anyone made an agreement with a fellow hunter? I am thinking mostly about cache hunting, where there maybe hundreds of hours spent doing research, and actually money spent, doing follow-up on some of the leads. Sometimes one person is doing most of the research, and sharing, then something happens and the partnership ends, so what is to prevent the other partner from using all this information, to locate the cache?

It would be easy to make an agreement on how to split the cache, if found, usually around 50/50, but what to do with all the research material, if the cache is not found in the time allowed?

Would like to hear some ideas. A few people here talk of just a hand shake, but in real life, that doesnt always work out, and finding and recovering is not always a one man operation. Maybe some sort of business agreement, but without actually starting a business? All ideas welcome, and Im sure there has to be more people interested in this, than just me.

 

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[Lee(CA)]

Hi.
Here is one you can probably modify: MDHTALK - Forms: Informal Metal Detecting Agreement
Lee (CA)

 

[Mackaydon]

For a project such as the one you have described, I'd hiire a lawyer well versed in contact law and have you and your partner each contribute 50% to the lawyer's fee to construct such a document NWS the percentage you and your partner agree to in the allocation of finds. In my experience, when either gold or silver hits the deck, one or more partners/participants seem to forget what the agreement was; especially if the original agreement was only verbal or loosely written. Be safe, not sorry.
Don..........

 

[maipenrai]

Thanks Lee, but I was referring to an agreement between me and my detecting partner, not the land owner. That has been covered here a few times, but thanks anyway, and the agreement may come into use later on.

Yes Don, Thats what I was interested in. I havent seen any agreement like this, but Im sure many of us could use one, or at least should have had one made up. It may be even more important than the agreement with the land owner. You are right about partners forgetting. I have been involved in several small businesses, and they are usually started by a couple of people with some good ideas, but as time goes along, one or the other seems to forget about doing the work, so things start to fall apart. Splitting the expenses is natural, but even then, things can get confusing, especially since a couple of friends usually dont think about book keeping being necessary. Im more concerned with the partnership breaking up before anything is found, and then the partner using the research to collect the goodies, of course they could be concerned about me too!! Maybe something like a non disclosure agreement, when you start a new job, I just dont know how binding it would be. I would rather be treasure hunting, than feeding lawyers in a court room.

Thanks for the input, and maybe there are others that have some ideas.

 

[Mackaydon]

No doubt you could think of a dozen more 'what if' situations and your concerns; all the more reason to hire a lawyer and start with a clear written understanding between you and your partner(s).
Don..