How a Real Estate Business Hired a Lawyer to Draft a Profit Share Agreement in Oklahoma

In 2022, a business in Oklahoma sought assistance with drafting a profit share agreement. The client aimed to outline the terms of a new venture involving short-term property rentals, specifying the profit distribution of 20% for themselves and 80% for the property owner. They also required clarity on responsibilities related to property management, maintenance, and furnishing, while ensuring the flexibility to terminate the contract after six months under reasonable circumstances. As a result, the client received five proposals from licensed lawyers, with flat fee bids ranging from $800 to $1,500, all submitted to complete the work within a one-week timeframe.