Document background
The Equal Ownership Contract serves as a fundamental legal instrument in the Philippines for establishing and maintaining equal partnership arrangements between multiple parties. This document is particularly crucial when two or more parties wish to formalize their equal rights and responsibilities in a business venture or asset ownership. It draws authority from the Civil Code of the Philippines and the Corporation Code, incorporating mandatory provisions for shared decision-making, profit distribution, and dispute resolution. The contract is commonly used in startup formations, family businesses, professional partnerships, and joint ventures where parties seek to maintain equal control and benefits. It includes comprehensive provisions for initial capital contributions, management structures, profit sharing, and exit mechanisms, all tailored to comply with Philippine legal requirements and business practices.
