If you're going into business with a partner, a partnership agreement is important. Here's what to consider when writing a business partnership agreement.

Funding a Business

Creating a Business Partnership Agreement

If you plan on going into business with a business partner, a written partnership agreement is important. If you and your partners don’t spell out your rights and responsibilities in a written business partnership agreement, you’ll be ill-equipped to settle conflicts when they arise, and minor misunderstandings may erupt into full-blown disputes. In addition, without...

By Nolo |

When Your Business Partner Is Your Life Partner

If you are going into business for yourself and your spouse will help out, you don’t need to hire your husband or wife as an employee or independent contractor, nor do you need to form a LLC or corporation. If you follow certain guidelines, you can continue to operate as a sole proprietorship (a one-owner...

By Nolo |

Partnership Basics

By definition, a partnership is a business with more than one owner that has not filed papers with the state to become a corporation or LLC (limited liability company). There are two basic types of partnerships—general partnerships and limited partnerships. This article discusses only general partnerships—those in which every partner has a hand in the...

By Nolo |

Getting Investors and Protecting Your Idea

Laws protect inventions with patents, creative works with copyright, and trade names with trademarks, however protecting an idea is a different matter. I don’t think you really can protect a business idea in any practical way. If it is a good idea it will be copied. That’s in the nature of business. Your only hope...

By Tim Berry |

Financing While Maintaining Equity

When starting a new business you may need start-up funds but lack the money to invest yourself. What are your options, can it be done without losing equity in the company? Start off by thinking about it from the other side. If you had $500,000, what would make you want to give it to you...

By Tim Berry |

The Personal Guarantee for Credit Approval

A personal guarantee (PG) is requested by lenders in order to ensure that they get paid any debt issued to a corporation or LLC. The personal guarantee is signed by an individual typically involved in the business. In most cases it’s one of the owners, officers, or board of directors. The National Association of Credit...

By David Gass |

The Four Tiers of Small Business Financing

One of the most important tasks of a small business owner is finding capital for their business. Unfortunately, most business owners are clueless when it comes to finding money, and most self-proclaimed experts they may listen to are equally misguided. The bottom line is you need capital for your business. Your capital needs will change...

By David Gass |

Good Debt vs. Bad Debt

I hate debt. I don’t like the feeling of owing anyone money. Though I was repeatedly taught in my youth to avoid debt like the plague, I didn’t listen very well — I was nearly $1m in debt at age 25! Some things are learned the hard way. As much as I dislike debt now,...

By David Gass |

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If you're going into business with a partner, a partnership agreement is important. Here's what to consider when writing a business partnership agreement.