A proper partnership agreement makes your new venture real. But the success of your business partnership depends on several intangible key factors that you must consider from the outset.
Sure, your partnership may look great on paper. But how well do you and your partners actually work together? Do your values align? Can you trust each other?
I get questions about forming a partnership all the time. Even if the legal structure is a Limited Liability Company (LLC), the members will create an Operating Agreement, which is the agreement among the members as to how they will run the business. This agreement is absolutely critical, and needs to have a number of important terms in it.
In this video, I explain how to set up a business with a partner and important terms to include. Going into business with a partner? Considering bringing on a new partner in your business? How do you write a partnership agreement? Watch my video to get some basic information, and if you need assistance with a partnership agreement, please book a call with my team here.
Sarah E. Holmes is a Philadelphia business attorney and strategist that helps start ups and established businesses looking to expand, protect their assets and increase their profits in an approachable, down-to-earth way. When you're looking for a business lawyer in Philadelphia, the Main Line or New Jersey, we can help.