Panorama City, CA asked in Business Formation and Contracts for California

Q: How can I create a Partnership Agreement for our start up company.

I am creating a Limited liability Partnership Agreement for a start up business. I need help with jurisdiction and whether or not the sum of 500 dollars a month is in line with federal minimum wage laws.In addition to what the value of cash is insofar as the establishment, development and branding occurs

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1 Lawyer Answer
Shawn R. Jackson Esq.
Shawn R. Jackson Esq.
Answered
  • Rohnert Park, CA
  • Licensed in California

A: As you probably already know, the basis for any successful business is a clear and cogent "agreement" between the founding members or partners. In an LLC or an LLP, such "agreement" would be embraced within an Operating Agreement ... which outlines management responsibilities and division of profits and other important matters. The next step for you is to schedule an initial free consultation by video call or telephone call ... such a discussion will help you determine the terms of the operating agreement.

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