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Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
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In Reply to: Seeking business advice on partnership posted by J.Mac on March 29, 2007 at 13:40:57:
Decide on how you want to structure the business. Sole proprietorship, partnership or corporation of some type. Use attorneys familiar with this here, not a buddy.Remember, if he gets tired of playing sidewalk vendor and walks away, he's out nothing except a friend. You're out that and whatever $$ you sunk into the business.
Look into insurance. Heaven forbid someone gets sick and sues. Whose name is on the papers? Also, some types of business' offer some dort of protection to the shareholders (corporations, S corporations, LLC, etc...) but you still need insurance.
And, last but not least, get EVERYTHING in writing.
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Follow Ups
- All good advice so far. a few more very important things to add. - Markw* 17:03:22 03/29/07 (0)
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