Forming a partnership or a limited liability company correctly can be very complex. The partnership section of the Internal Revenue Code is fraught with peril for the novice who does not take care to draft correctly. Moreover, there are inherent potential conflicts of interest between the parties. Everything seems bright and cheery when a business relationship begins. When the parties part ways, as they often do, disagreements emerge. In those moments, an agreement carefully drafted years prior will be invaluable to the former partners in guiding them without incurring thousands of dollars in attorney fees to fight in court.
Jeff Helsdon has over two decades of experience in drafting complex partnership and LLC agreements correctly.