“Partnership” Agreements

OK, so you’ve formed your corporation or LLC.  Now what?  Are you (and possibly your spouse) the only members or shareholders?  If not, your minority owner(s) will have substantial rights that require extensive disclosure.  The majority owner(s) also have extensive fiduciary duties (that most didn’t even know existed).

All too often, business “partners” fail to adequately discuss their rights and obligations to each other at the outset of their business relationship.  Further, few partners reduce their agreements to writing, leaving the situation ripe for future confrontation when one partner has a different recollection than the other.  As used on this page, the term “partner” refers to shareholders in a corporation, members in an LLC, and partners in a limited or general partnership.

For a low, flat fee, our office can openly discuss your relationship with other partners, ask the right questions, and draft an agreement that clearly specifies each partners’ rights and obligations toward each other.  We ask the critical “what if” questions that few partners know how to ask themselves.

The result… a better business relationship for all.  We see far too many partnership disputes in our office that could have been avoided if the partners had taken a few precious minutes to consult with an attorney before going into business.  Unfortunately, these disputes often end up in litigation, which is very expensive and time consuming.

Please call us for a free, no-obligation consultation to learn more about agreements between business owners.