Inside Entrepreneurship: Partnership tiffs can kill a startup

Of all the legal forms a business can take, a partnership is probably the most fraught with dangers of them all. There are several ideas in this article that can guide you on a path if you truly want to try the partnership route but I would highly recommend going ahead and incorporating your business.

Partnerships...

If you do decide to go the partnership route I would highly recommend having a lawyer draw up a legal document that specifically spells out what each partner is going to be responsible for, how everything is going to split up, who gets first right of offer if one of the partners decides to sell, and what happens in the event of death.

A good business lawyer can give you all the specifics you will need in your particular circumstances.