Originally posted by BavarianBeast
A friend and I have recently decided to start a business. We are currently looking at our options for incorporation. We would like to set up the company with a buy/sell clause and a shotgun. We figure that this will be easy enough to do on our own through the registry as we will be 50/50 partners and it seems straight forward.
Some think that we are crazy to go forward with a lawyer, so I am wondering if Beyond can convince me to spend the extra cash to hire one.
Normally, I recommend one to incorporate themselves, however adding a partnership in to the mix, I'd recommend getting a lawyer.
You want to make sure the partnership agreement is as clean cut, and covers absolutely every type of situation that can arise, and provides a course of action in any of the possible events (divorces, buyouts, health issues, mental capacity, unrelated personal lawsuits, disputes among partners, death, etc...).
Even if you guys are tight, you want a partnership agreement that would cover rules as if you were arch enemies. Do it now at the beginning instead of later...
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