Partnerships

Many people still like the idea of working through a partnership.
Even though it is an easy way to set up a business, a partnership does not protect the partner's assets in case things go wrong.   

In a partnership you do not only have unlimited liability for what you do, but you are also liable for what each of your business partners does in the name of your partnership.

In many ways you have no control over what your partner(s) can or cannot do, so this could become a real headache for you, if you do not set up your partnership properly.

You also need an exit strategy in case one partner wishes to leave the partnership, and an entry strategy, in case that another person or entity wishes to join your partnership at some stage.  

At AAABA we discuss with you, your particular situation and then together with our legal advisors help you form a partnership that is workable and agreeable with you and your partner(s).