EXPERIENCED COUNSEL FOR BUSINESS PARTNERSHIPS

As business partnership attorneys, we help you file the necessary paperwork, consider business and tax structures, and understand your partnership responsibilities.

We help you find the legal grounds to support your business needs, whether it’s time to take on another partner or withdraw from a partnership.

It is crucial to discuss all aspects of your partnership with an attorney before opening your doors for business. A partnership combines resources, talents, and abilities in a way that usually benefits both partners. However, without a formal business agreement, your partnership could face trouble down the road.

Disputes often arise when the terms of a relationship are unclear. Drawing up a clear partnership agreement is crucial for a smooth partnership business relationship. It is essential to work with our business attorneys to consider possible points of contention before entering into any business transactions with a potential partner.

Did you know that you could be liable for the decisions a business partner makes in the name of your business? You also could end up personally liable for any business debts or litigation from clients or vendors because of the actions of your prospective partners. Signing up for a relationship where you may end up with personal liability for business decisions without adequate documentation in place is a financially risky choice.

At Hopler Hanna, we often recommend LLC, LLP, and other business structures that protect your personal assets. That way, if your partner makes a wrong decision or a client or vendor sues, you have a much higher likelihood of being legally protected from losing personal assets.

We help you analyze the pros and cons of partnerships, limited partnerships, general partnerships, LLCs, and LLPs. These entities vary according to formation structure, members/owners, legal liability concerns, responsibilities, and profit-sharing.

Before starting your partnership, discuss your business structure and tax status with us. Starting with the best business formation for your partnership can set up a prosperous future for your growing business.

It may seem easier to operate as a partnership because it is often a less formal arrangement than an LLC. However, filing income taxes as a partnership involves employee withholdings and finding business deductions. IRS rules about dividing profits and losses can also unnecessarily complicate your returns.

We can help make tax season easier by working with you to assess your tax liabilities throughout the year.

Often, partnerships form without much thought about how the business will run day-to-day. When disputes arise, you may struggle to work together. If you’re beginning to see issues, contact our business attorneys at Hopler Hanna to negotiate with your partner before your partnership falls apart.

If your partnership is causing a failing business, you may want to leave the partnership. We help you understand your rights and responsibilities as a partner and how best to leave while keeping in mind any contractual obligations.

It is easy to work with us at Hopler Hanna. We listen carefully before recommending any action and try to fully understand your situation before considering which legal actions will help your business thrive.

Get in touch to set up your consultation. We can meet in person, through video chat, or come to your place of business. Let us help your business grow through legal evaluation and consistent and carefully thought-out legal advice for your next best steps. Contact us today to get started making the best decisions for your business.