A Professional Partnership Agreement Drafted by an Attorney

Your business deserves a professional partnership agreement.

The Partnership Agreement (also called Operating Agreement or Shareholders Agreement) is a legal contract between the owners of a business. It determines the rights, responsibilities, and remedies available to each partner.

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Partnership Agreement

 

Call now to speak with a small business attorney: (412) 626-5626

When you go through the process of drafting a custom Partnership Agreement with an attorney, you have to consider dozens of factors. A good small business attorney knows the right questions to ask to protect you and your business from trouble.

Example questions answered by the Partnership Agreement:

  • What will happen if one partner dies or becomes disabled?
  • Who has the right to buy or sell equity in the business?
  • When can one partner be forced out by the others?
  • How will the purchase price be calculated in the event of a buyout?
  • What protections will keep the minority owners from being oppressed by the majority?

What can go wrong if you jump into a business without a professional Partnership Agreement?

  • You could be forced out of the business by your partners
  • You could get stuck with partners who aren’t contributing
  • You could have your effective percentage reduced
  • You could be frozen out of profit distributions
  • You could be forced to spend thousands of dollars in costly shareholder litigation

No business should operate without a good Partnership Agreement, and nobody should throw their time and money into a business without one. Talk to a small business attorney today.

Call an attorney at

(412) 626-5626

Email KM&A at

lawyer@lawkm.com

 

 

 

 

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