Legal Question in Business Law in Maine

Re: restaurant law

Since you intend on going into business with a partner, it is prudent to consider possible legal issues. Frankly, the format of an email is too restrictive to properly respond to your query. However, you should not necessarily assume that a partnership is the proper legal entity for the business. A limited Liability Company or a corporation with "S" tax status may make more sense, depending upon your goals. Do you have an accountant? Are you purchasing a business or starting up from scratch? Do you have a lender and line of credit? Have you prepared a business plan? What is your experience? If you have sufficient capital to start up and sufficient borrowing to maintain cashflow, some initial legal expense may be a sound investment to help identify and address potential business/legal issues. Feel free to give me a call at the office, I would be willing to explore what assistance I could provide and what you can do on your own to save on expense.