When entering into a business agreement with one or more partners, a partnership agreement is essential to make sure your interests are protected. A well crafter partnership agreement will legally structure your relationship with your partners in a way that benefits the business as well as the individuals or entities involved. This agreement will also serve you well in the event that there are future disputes and help bring about smooth resolution.
Partnership agreements come in all shapes and sizes, and the options can be confusing. There are many components that need to be worked out including the amount of ownership by each partner, decision making powers and abilities, buyer-seller agreements, adding partners, dispute resolution, salaries, debts and obligations, and so much more.
Don’t make the mistake of finding a generic partnership agreement on the Internet. Saving a small amount of money now can prove extremely costly in the future. The Foothill Law Group can advise you and hand craft a partnership agreement that best suits you and your business, and is legally enforceable if necessary.
If you are entering into a business agreement or looking to revise an existing partnership agreement, contact us today for a free evaluation of your case.