Partnership considerations

Starting a new business partnership, one should consider the following aspects:

  • Voting, Who gets the final say.
  • Profit Split/Loss
  • Liability
  • Illegal activities, non-disclosure etc.
  • How new partners are to join, and they’re attribution to the above.
  • Expulsion of member (who has veto say)
  • Misconduct
  • Termination of contract
  • property rights
  • Competing against the firm

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