Partnerships are an amazing thing. So many businesses succeed because they are a partnership. However, if not properly structured and maintained, with lots of communication, they can destroy a business.

Please realize that you actually may have a unique situation and there isn’t a one-size fit’s all approach or answer to a every new business situation. You will most certainly have a set of facts that are different from friend’s, mine or anybody else.

Many people think that all they need to do is file one piece of paper with the State and you have a valid and effective LLC. Actually, at that point you have only completed about 25% of the process.