Legal Question in Business Law in Colorado

Re: Business partnership

Good morning,

You need to be careful here as many business arrangements like this fall apart in acrimony and accusations. I would advise that you have a very clear agreement regarding duties, capital requirements, voting, dispute resolution and dissolution.

Is this business incorporated or under an LLC? If so, then you need a shareholder or operating agreement, respectively. It should not be structured as a general partnership because this does not limit your liability.

Good luck and contact legal counsel to advise you and provide an appropriate agreement that protects your rights and interests.