Q: I have a business partner in AL, I am in CT. We are going to have a business agreement.
Should the agreement be based in a neutral state?
A:
You can have an agreement with someone from out of state. You can pick any law you would like to avail yourself too. It is not necessarily bad to use CT law. Many national business agreements tend to be in NY or DE. It is also possible to change the state at a later date. For most people it comes down to convenience should their be a dispute between partners. In some cases such as national stock companies DE is a significant advantage.
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