Starting a Business, Part Two: Partnership, Operating, or Shareholder Agreement
Depending on what entity you chose, the document that will govern the management
and ownership interests needs to be discussed and implemented as soon
as possible. Ambiguity as to the controlling interests, management and
other pivotal rights regarding a business interest can cause significant
problems the longer a company waits to implement proper documentation.
You can avoid these problems if such documentation is negotiated and agreed
to as early as possible.
As you can see, starting a business presents more challenges than just
developing a winning idea or generating start-up capital. The value of
taking the time to see that proper actions are taken early on should not
be overlooked. Please think of us if you or someone you know can use the
services of a business formation attorney. We can help and we are always
happy to hear from you. You can reach us at (203) 651-5521.