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<p class="MsoNormal"><span style="color:#1F497D">Andrea, typically the profits and losses of a JV are allocated among the JV members based upon their ownership interest as stated in the JV Agmt. If there are 2 JV members and each has a 50% ownership interest
in the JV, then unless the JV Agmt provides otherwise, they will each receive 50% of the Profits (or be responsible for paying 50% of the Losses). To the extent there is a capital call and capital needs to be paid in, each of those 2 JV members would be liable
for 50% of the capital call. In addition, all JV decisions would have to be mutually agreed upon by both JV members (unless the JV Agmt provided otherwise).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">The allocation of ownership interest doesn’t have to be 50%-50%. It can be any combination the parties want that adds up to 100% (e.g., 75/25, 60/40, etc.). If ownership is not 50%-50%, then one party will be
the majority member and one the minority member. Since ownership interest also typically corresponds to voting interests, that means the majority member will have control over the JV (again unless the JV Agmt provides otherwise).
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">For your father/son arrangement, perhaps they may want to base their respective ownership interest on how much of the total contract price/work each will be handling with their company. For example, if the total
contract price will be $500K, with the son’s company handling $100K of the total work and the father’s company handling $400K of the total work, then they might consider a JV where the father has 80% and the son 20%. Also, the parties can agree to one percentage
allocation for voting (i.e., JV control) and a different allocation for sharing profits and losses and another allocation for capital calls.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Hope this helps.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Best regards,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">George<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><img width="191" height="54" id="_x0000_i1026" src="cid:image002.jpg@01D1BB38.B1B9C6C0" alt="Carlton Fields, P.A."></span></b><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><br>
George J. Meyer</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><br>
Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">Certified by The Florida Bar in Construction Law<br>
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of this inadvertent delivery.</i> </span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> clc-discussion-bounces@lists.flabarrpptl.org [mailto:clc-discussion-bounces@lists.flabarrpptl.org]
<b>On Behalf Of </b>Andrea Fair<br>
<b>Sent:</b> Tuesday, May 31, 2016 11:54 AM<br>
<b>To:</b> clc-discussion@lists.flabarrpptl.org<br>
<b>Subject:</b> [CLC-Discussion] 2 questions<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">Hello everyone! I hope you all enjoyed the long weekend.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">I have 2 questions:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><![if !supportLists]><span style="color:#1F497D"><span style="mso-list:Ignore">1.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="color:#1F497D">I have a father/son construction business relationship that is in need of some kind of operating agreement or joint venture agreement. Essentially, the son used to work for the father, who is a GC
(primarily high-end custom homes). The son has now branched off and started his own remodeling company because his father was not interested in doing any remodeling. However, they plan to continue working together periodically. I know they could hire each
other as a subcontractor but I think there will be occasions when they want to work together in a joint venture type of arrangement and split the profits. I was wondering if anyone had some ideas or contract language that would help me draft some kind of
formula for who does what and how they will split the profits. They most certainly will not keep track of their time so that is not an option.<o:p></o:p></span></p>
<p class="MsoListParagraph"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><![if !supportLists]><span style="color:#1F497D"><span style="mso-list:Ignore">2.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="color:#1F497D">My second question is not specific to construction law. Does anyone have a list of the counties or judges who are now requiring written responses to motions and ruling on motions without a hearing
(strictly based on the written submissions)?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Thank you in advance for any assistance you can give.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Andrea<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#244061">Andrea M. Fair<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#244061">Board Certified Construction Attorney<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:red">***<b>Note our New Address and Phone Number effective January 8, 2016***<o:p></o:p></b></span></p>
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