It may seem like a dream come true to start a business with a friend. But going into business with friends can be fraught with peril if proper planning and discussion do not occur well in advance of diving in. Operating a successful business usually requires several moving parts to work smoothly, and if proper planning and discussion do not occur in advance, the day-to-day stresses of running a business can put stress on relationships and eventually on the business itself.
Specifically, open and honest communication about expectations, strengths, weaknesses and roles must occur. And, most importantly, what is agreed to must be written down. Experience shows that when people attempt to draft partnership agreements without the aid of legal counsel, they do not prepare documents that properly protect them or that address all of the important issues.
Hendricks Law Firm PLLC is here to help. We regularly draft partnership and other similar agreements and we can help you to protect your friendships and your business while you focus on success.
Contact us and let us know how a New York City business partnership dispute attorney can help you.