Partnerships

Starting a new business partnership is an exciting endeavor – one filled with hope and high expectations, but also fraught with challenges and pitfalls for the unwary. The Structure Law Group Los Angeles attorneys provide representation for all aspects of general partnerships, limited partnerships, and limited liability partnerships ("LLPs") for both business and real estate holdings. Our accomplished legal team assists clients in choosing the correct form of entity and in structuring tiered partnerships for liability protection. Because our attorneys have personal experience in partnerships, we take pride in our ability to apply this wisdom into practical counsel and advocacy to our clients that are interested in forming or investing in partnerships or LLPs.

Structure Law Group’s partnership formation services include the initial organization, related filings with the Secretary of State, Department of Corporations, Internal Revenue Service, Franchise Tax Board, Employment Development Department, and other regulatory entities that may be required for your business. Partnership agreements can be created as simply or complex as necessary, accounting for buy‐sell provisions, managing partner authority, tax allocations, and planning for the event of dissolution, sale, or transfers.

If you are considering forming, managing, or dissolving a partnership, schedule a consultation with one of our attorneys, please call our office today at (310) 818‐7500. Prospective clients can also contact our office by submitting our online contact form.

The exciting new chapter of partnership formation is the perfect time to get your business secure in all relevant legal issues to ensure the longevity of your endeavor. Our Los Angeles business attorneys can help you select and adhere to the process of forming the appropriate type of partnership that aligns with your business goals.

• General Partnerships: When partners are both interested in being equally involved in managing the business.
• Limited Liability Partnerships (LLP): When one (or more) partners have limited involvement in managing the business. Typically, Limited Partners only invest, which means they may only be held liable for legal issues to the extent of their initial investment.

Selecting the correct type of partnership provides a secure foundation for your business, and clarity as to the obligations each partner has for management and liability.

Structure Law Group, LLP has a strong team of attorneys that are adept in setting tangible guidelines for the management of your business. Having a clear and effective Operating Agreement in place protects against the potential for future disputes between partners and helps to shield you from liability. We consider your business's needs, the partners' relative interest in involvement with operation and management of the business, and the size of contribution from each partner's investment.

Forming a new partnership is like any relationship, and over time issues will come up. Disputes between partners can result in costly litigation, impair operations, and even impact profits. Our skilled team of business attorneys can provide you with the clarity of a secure management strategy and Operating Agreement. These steps will reduce the likelihood that a future dispute will be a detriment to your business or your wallet. Structure Law Group, LLP's business attorneys will also assist with the daily operational needs of your business, such as contract negotiations, hiring and firing employees, resolutions and consents, and other legal actions for protecting the partnership and the partners.

Sometimes a partnership is no longer the proper form of entity for our clients, whether or not the “break up” between partners is amicable. The business attorneys of Structure Law Group, LLP provide compassionate but tough advocacy in this transitional phase of the business. We pull from our experience and legal background to prescribe the appropriate legal remedy such as converting to an LLC or a corporation, dissolution, or sale of the partnership. Then we work with our partnership clients to make sure all their records are in order to maximize their value on a merger or acquisition.

Not only do our business attorneys have years of legal practice assisting clients with partnership matters, Structure Law Group is itself an LLP in Los Angeles. Our intimate understanding of the process allows us to assist many clients in forming, managing, and dissolving their partnerships. Through our observant and cost‐effective representation and advice, you can establish a more stable partnership and profitable operation.

Call (310) 818‐7500 or contact us through our website to schedule a consultation.