Fort Worth Partnership Agreement Lawyers

Tarrant County Business Contract Attorneys for Legal Agreements Between Owners, Partners, and Shareholders

During the business formation process, a company's owner, partners, or investors will want to make sure they have the proper legal protections. Establishing the right type of business entity is one of the key steps to take that will protect owners and partners from liability. However, additional protections may be needed, especially when multiple partners will be involved in managing the business or when an owner will need to provide reports to investors or shareholders. Owner or partnership agreements can be crucial in these situations, and they will ensure that all parties involved fully understand their rights and obligations and have protections in place should disputes arise in the future.

The law firm of Gonzalez Law, PLLC provides business owners and partners with experienced guidance as they address the legal issues that affect their companies. We can make sure all steps are followed correctly during the process of starting or restructuring a company, and we can make sure the proper legal agreements are in place that will protect the rights and interests of everyone involved. We also provide representation in breach of contract cases involving partnership agreements or other types of business contracts that affect owners and partners.

Terms to Include in an Owner, Partnership, or Shareholder Agreement

Contracts between business partners and other types of agreements that affect owners or shareholders may address multiple issues related to how the business will be operated and the rights of all parties involved. These agreements may have terms that address matters such as:

• Percentage of ownership - Partners will want to be sure they fully understand the percentage of the business that each party owns. An agreement may also detail the ownership stake that investors or shareholders have in a company. These percentages may be determined based on a party's level of investment, including monetary investments or contributions of other forms of capital, such as real estate property, equipment, materials, or supplies.
• Division of profits and losses - Profits earned by a business may be distributed among partners or shareholders, and an agreement may detail how these distributions will be allocated. Partners may receive a percentage of profits equal to their percentage of ownership of the company, or other methods of distribution may be used, such as by dividing profits equally among partners. An agreement may also detail how losses will be shared by the partners, and this may determine when each party will be able to claim these losses when filing taxes.
• Authority and decision-making - An agreement may detail how partners will make decisions about different types of issues, including day-to-day management of the company or major issues related to expansion of the business or development of new products or services. Depending on the relationship between the partners or other stakeholders, an agreement may state that decisions will be made by voting, or it may require consensus from all partners. An agreement should also detail whether different partners or other parties have binding authority, meaning that they will be allowed to enter into contractual agreements on behalf of the business.
• Changes in partnership - Owners and partners will want to understand the procedures that will be followed if new partners or investors join the business. They can also take steps to make sure an agreement details what will happen if a partner dies or leaves the company or if the parties decide to dissolve their partnership.
• Dispute resolution - To address situations where partners or other stakeholders may encounter disagreements about the direction of the company or other issues that affect the business, an agreement may specify the methods that will be used to resolve disputes. To avoid costly and time-consuming litigation, partners may agree to participate in mediation or use arbitration to settle these issues.

Contact Our Saginaw Partnership and Shareholder Agreement Attorneys

To learn how our firm can help you negotiate a partnership agreement and ensure that you and your business will have the proper protections, contact us at 817-349-7330 and schedule a free consultation. We assist business owners and partners with legal agreements and related issues in Plano, Tarrant County, Saginaw, Arlington, Fort Worth, Richland Hills, Dallas, Haltom City, White Settlement, and Forest Hill.