In the chapter-opening vignette featuring Kicking Horse Coffee, Elana Rosenfeld advises that partners avoid a 50/50 partnership
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In the chapter-opening vignette featuring Kicking Horse Coffee, Elana Rosenfeld advises that partners avoid a 50/50 partnership split and she strongly suggests obtaining legal counsel in drafting partnership agreements. What are the advantages and disadvantages of a 50/50 split and what benefits can partnerships gain from obtaining legal counsel prior to forming the business?
PartnershipA legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Advantages of a 5050 partnership split Each partner has an equal share in the distribution of profit...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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