What is the name of your state (only U.S. law)? Florida
I have a few questions but first ill give you a little bit of what is happening.
I met a woman who has a company but she does everything herself. She is wanting to expand but can't do it without help. I have met a few times with her and she is wanting no monetary help, all she needs is someone to run the office while she sales. so my questions are the following.
1- How do I build a partnership with someone who alreayd is in business?
2- Should I open a LLC and her sign over 50% of the company to my company?
3- If there are old debts im not aware of is there any way when im doing the contract that i would only be liable for debts incurred from the date of signing and on?
4- Your advice on what I should do if none of the above can be done?
5- How would I draw my pay on what is left after paying all the bills, and would I have to open a business account under my new business or if your suggestion is to partner into her business do i need to have my own account also?
For now all i have are these questions, but if you can think of any troubles i might encounter and guide me it would be much appreciated.
Thank you very much in advance this website is a lifesaver.
1 Answer from Attorneys
Use a partnership agreement.
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