My DH and a friend want to start a small online retail business. My DH is looking at an LLP (limited liability partnership) structure. I am ending up being the person doing all the research for this venture.
If anyone has been part of a small business that was set up as an LLP, I would like to know how you felt about the structure and if you would recommend it.
Also, I need to write a partnership agreement that is flexible regarding each partner's contributions and share of the profits and interest in the business as I don't see this as being a 50/50 business. If anyone has been involved in a business set up like this before and you have any words of wisdom to throw my way I would appreciate insights from someone who has been through this.
Thanks !
If anyone has been part of a small business that was set up as an LLP, I would like to know how you felt about the structure and if you would recommend it.
Also, I need to write a partnership agreement that is flexible regarding each partner's contributions and share of the profits and interest in the business as I don't see this as being a 50/50 business. If anyone has been involved in a business set up like this before and you have any words of wisdom to throw my way I would appreciate insights from someone who has been through this.
Thanks !
