Business Formation Law
I want to start a small business with two partners. What is the best way to protect myself?
The best way is to have an open and frank discussion between all the business partners as to what the expectations are of one partner of the other and what the expectations are of the business.
Once those expectations are fleshed out, they should then be reduced to writing. That writing is usually in the form of a shareholders’ agreement, which lays out what action will be taken in the event that there is a parting of the ways between the partners.