Legal Question in Business Law in Arizona

Re: business contract

I represent a number of clients who require partnership agreements (contracts). You may also choose to set up a corporation or a limited liability company. A contract among the owners of a business is not a standard agreement, it must be customized to the needs of the parties, the requirements of the business and the business strategies that you intend to follow. The agreement must also cover the situations where one of the partners becomes sick or incapacitated or dies.

Please do not try to save money by using a form or other free source, you will foolish to do so, particularly if the business is very successful.

Re: business contract

Probably the most efficient way of doing this is to set up an LLC and then have an Operating Agreement which will act as the partnership agreement. The LLC provides liability protection like a corporation, and the Operating Agreement sets forth the percentage of contributions of money, goods and labor each party makes into the LLC, what each partner's responsibilities are and what limitations on management power each has.