Starting a business with one or more partners? also written on? Partnership based on? ? , The worst way to structure a business. E? S certainly the least desirable and financially potentially dangerous. It 'best to take your business forms, including two types of companies, as well as a so-called limited liability company LLC.
By registering with me? M is not a lawyer, I am still in active tax advice. But like someone? D involved? and burned? joint venture just changed dramatically, I have opinions. I? D like to share with you though? 'll Let me.
The majority of potential partners to see go into business with friends or relatives. Many times the parties have each been known for years. But knowing someone for a long period is not the same knowing. At least not well enough to become partners with them. But what? S only the first disadvantage.
Disadvantage 2: Many believe that potential partners can shake a deal with a little more than a verbal agreement and a hand. Wrong! The only safe way to do it, if you need to do is spelled with a detailed partnership agreement. An impartial of all partners pulled a lawyer agrees.
Disadvantage # 3: Even before reaching this point, you should know that the partner may be held jointly liable for the debts of the partnership severably. In simple terms, means that either all or you may be liable for all obligations of your business. Everything from goods and services to judgments against the company, including the obligation for which it is not possible since only one person responsible at all.
This may erase some or all of the personal assets of individual partners. But let me paint a worst case scenario. Disadvantage # 4: A partner has only modest means, a simple house and car, with a spouse and children. Partner B is extremely rich. Big house, expensive car, in summer stocks, bonds, Iras that works.
Your company is belly up for some reason, leaving behind huge financial liabilities and other obligations. Creditors take sides in an attempt to court to collect. A multi-million dollar verdict in favor of creditors paid, and the Court's statement on the activities of shareholders.
A partner may lose his house and simple car, but once their past, has nothing, the judge has. So they turn to Partner B, to collect the balance of this multi-million dollar verdict. And to convince the ruling of the Court has spent big house, expensive car in summer, however, stocks, bonds, etc.
They could have been? Equal partners? but it? s no matter what, you can only lose. If only because partners may be personally liable for the obligations of their business? together and severably, which means, individually and collectively? I suggest you think long before being involved in a partnership, even one writing.
But why always with a partnership at all, spell, when a corporation or an LLC may as well start the settlement in order to disturb, and also significantly reduce or eliminate the problem of personal responsibility at all? E? S definitely something worth thinking long and hard about it.
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วันพฤหัสบดีที่ 27 พฤษภาคม พ.ศ. 2553
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