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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118658
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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Im going into a partnership agreement with 3 other people.

Customer Question

I'm going into a partnership agreement with 3 other people. Each of us will own 25% of the company. Two of the partners will invest the capital to for start up, the other will invest his experience in the filed of operations and sales. I will be providing my C10 electrical License of 15years and experience in oder to start and run the company. Without my certifications the company can not get starter.
What are the most important things I should be looking for in order to cover and be protected?
Submitted: 4 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 4 years ago.
You need to be looking to have a buyout clause to prevent them from simply removing you from the partnership. Because your license is necessary for operation of the partnership it should state in the agreement that any decisions regarding professional determinations are your sole discretion as license owner. Also, you need to make it clear that because the license is required for the partnership, your membership in the partnership will not be impaired or infringed upon and you cannot be removed without dissolution of the partnership.


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