One of the first important decisions when starting a business is picking the business's structure. Choosing the right plan can be the difference between profitability and insolvency. For many, partnerships are a good option, but going this route should always include a strong and binding partnership agreement. This can help ensure that all partners involved understand everyone's responsibilities, financial obligations and legal liabilities.
Important considerations for partnership agreements
Disability accommodations cost less than many employers think
More employers are hiring workers with disabilities these days. This is likely in part due to increased awareness of how to best work with disabled employees. In fact, employers are pleasantly surprised to learn that the cost for appropriate alterations to the workspace are less expensive than they feared. According to studies at the dation Network, a majority of these changes cost less than $500.
PG&E Files Chapter 11 to manage liability
The San Francisco-based utilities company PG&E has filed bankruptcy to protect itself from liability for wildfires in Northern California in 2017 and 2018, including the Camp Fire last November. The biggest power utility in the country with listed assets of $71.39 billion and liability of $51.69 billion employs 24,000 people and provides services to 16 million customers. As is usually the case with Chapter 11, the company plans to pay all its suppliers of goods and services it receives after the filing.
Is a business partnership dispute putting you in a tough spot?
A partnership is a popular type of business structure. You may have considered this structure your best bet because you had another person who helped you create your company, whether through ideas or other investments. As a result, your business has grown over the years.
