General Partnership Agreement Help Guides

A general partnership is created when two or more people decide to carry on a business together. A partnership usually operates in accordance with a partnership agreement. A general partnership agreement is a legal document defining how the business will operate. The agreement helps partners delineate how they will make decisions and what role each...

“EIN” stands for Employer Identification Number and is required by the IRS for tax identification purposes for any business with employees as well as businesses falling under a few other categories. Specifically, the IRS requires that a business obtain an EIN if it: has employees; operates as a corporation or partnership; withholds taxes on income o...

Legal proceedings can be very intimidating for businesses, especially for those who are unprepared. A lawsuit and a settlement or judgment looks slightly different for each business structure. It will also vary depending on the nature of the claim, whether you have insurance, and who is asserting the lawsuit. Planning ahead can save you and your bus...

Once you get the most common business licenses, including your occupational license, you need to look at other permits and licenses you may need for your specific business. Certain types of businesses will need more licenses and permits. In the excitement and stress of setting up a business, it is easy to forget one of the many licenses and permits...

According to the Conway Center for Family Business, the majority of United States businesses are family owned; upwards of 80 percent of businesses are family based. Even big businesses like Ford, Marriot, and Walmart are family held. These family-based businesses do more than just keep everyone employed and prospering; they also account for about 60...

You have probably heard about using a will or other estate planning tool to protect your family, but what about your business? Small businesses rely heavily on their owners, and the unexpected death of a business partner could leave a key role unfilled. Without a succession plan in place stating who should take over, the business may be at risk of c...

You are ready to embrace the entrepreneurial life. This is an exciting time—but also one of uncertainty. Before you proceed with an LLC operating agreement or articles of incorporation, you will need to make arguably the most important decision of all: business entity classification. From sole proprietorship to C corp, options abound. Tread carefull...

Starting any business can be a huge undertaking. However, starting a business with a partner can be even trickier because you have two people that are likely both very passionate about the company and may have differing opinions about certain......

As a business owner, whether you have been a business owner for some time or you are just now starting out, you have likely experienced many tax components. Initially, you have to choose the type of entity you want your business to be, but......

You have conducted extensive market research, drafted your business plan, completed a variety of legal documents, and finalized your mission statement. Your business is ready to open and thrive—or is it? Entrepreneurism is, at its core,......