Trying to understand ownership/profits/losses split

[DJFalcon]

What is the name of your state (only U.S. law)? California

If a business agreement states each member's capital contribution is 50% but profit and losses are allocated 85/15 does that indicate ownership is 50/50 or 85/15?

How would proceeds from the sale of the business be split 50/50 or 85/15?

How would liquidation get distributed 50/50 or 85/15?

 

[LdiJ]

What is the name of your state (only U.S. law)? California

If a business agreement states each member's capital contribution is 50% but profit and losses are allocated 85/15 does that indicate ownership is 50/50 or 85/15?

How would proceeds from the sale of the business be split 50/50 or 85/15?

How would liquidation get distributed 50/50 or 85/15?

Sorry, but I would have to know more about how the business operates before I could comment. Is this a situation where one member is doing all the work and the other is just an investor?

 

[DJFalcon]

Sorry, but I would have to know more about how the business operates before I could comment. Is this a situation where one member is doing all the work and the other is just an investor?

Yes... the 85 partner does every aspect of the work although he was supposed to only do operations. The 15 was supposed to handle the business side and marketing but he doesnt do anything. He doesnt even come to the site. He actually operates another business elsewhere. The initial capital was dollars by the 15 partner and the 85 was tools/equipment.