In a general partnership, how should profits be shared if partners only agree on voting percentages?

In a general partnership, when the partners have only agreed on voting percentages without any specific agreement regarding the distribution of profits, the default rule under Florida partnership law is that profits should be shared equally among all partners. This principle reflects the foundational notion of partnerships, where partners are considered to have equal standing in the business unless otherwise stipulated.

This is rooted in the idea that partnerships are based on mutual trust and shared responsibilities. Even if partners have different levels of investment or specific voting rights, the lack of a clear agreement on profit distribution means that the law will step in to provide a fair resolution, leading to equal sharing.

While partners can certainly agree to a different profit-sharing arrangement that reflects their investments or other factors, such an agreement must be clearly documented to be enforceable. Without such documentation or explicit agreement about profit distribution, the default equal sharing rule applies, adhering to the principle of partnership law that treats partners as equals in terms of profit entitlement by default.