can someone please help me, im interested in a partenship deal with someone, its an already exsiting business, can someone recomend me what information that i need to acquire fro them, or has anyone got any websites that i can get this information from?
2007-03-17 03:31:16 · 2 answers · asked by R M 1 in Business & Finance ➔ Other - Business & Finance
If you are thinking of becoming a partner in a business that is already established there are a number of things you must find out. Here are a few of them
1) Have your accountant or an in dependant accountant audit the financial records for the last 5 years at least.
2) Make sure there are no liens, lawsuits, etc registered against the business.
3) Since you are liable for the debts if you become a partner, you need to check on the other partners personal financial status.
You need to carefully examine everything to do with the day to day running of the business, and make sure you have all partnership agreements notarized and registered properly.
2007-03-19 22:43:26 · answer #1 · answered by ? 6 · 0⤊ 0⤋
The best advice I can give is to stay away from partnerships. Find out what form of business entity this is ... sole proprietorship, LLC, s-corporation, etc. If you REALLY want to be involved in the business, get them to change it to a corporation (LLC, s-corp, c-corp) and give you a substantial amount of stock.
2007-03-18 09:03:51 · answer #2 · answered by jdkilp 7 · 0⤊ 1⤋