Entity Formation & Partnership Agreements
Any business owner must consider the form of ownership for any venture, whether it is a sole proprietorship, corporation, limited liability company, or a general or limited partnership. Each form raises its own specific set up legal and tax issues that should be understood by the client. If the legal entity has partners, shareholders or members, the issues become more complex. We assist clients in thinking through all of the issues of governance and taxation that come with joint ownership. Clients must think through how decisions about operations and finance will get made, how taxes will get allocated, capital will be raised, and what will happen in the event of dissolution, disability, sale, death, divorce and other issues. We strive to help clients come up with a working framework for their venture, and come up with relevant and practical partnership agreements that will assist the partners as they move forward, and will not get stuck in a drawer and just forgotten about.