How a Consulting Business Hired a Lawyer to Draft a Profit Share Agreement in Colorado

In 2024, a business operating in Colorado sought assistance with drafting a profit share agreement. The client, an operations agency partnering with small online businesses, aimed to transition from their current profit-sharing model to a phantom equity agreement designed for company-to-company relationships. This new agreement was necessary to establish clear terms that would protect both parties and ensure a fair return based on the increased valuations resulting from their collaboration. As a result, the client received six proposals from licensed lawyers, with flat fee bids ranging from $499 to $1,000, all submitted to meet the client's requested deadline of one week.