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Partnership

by forshoreads
1 replies
Me and my friend are looking to start an advertising business in NJ and need help with getting a general partnership set up. Any info/help is appreciated. Thanks
#partnership
  • Profile picture of the author bob ross
    The simplest method is to go to your county clerk office and get a DBA (doing business as) to file a partnership.

    Another option is to form an LLC through your state office, or you can incorporate. Personally this is what I have done with partners. The most important thing is to put together a formal operating agreement which details what control and share of the profits will go to each of you. This needs to be notarized as well.

    It might not seem like a big deal starting up but believe me down the road there can easily be squabbles where the operating agreement will work in your favor if something goes south.

    Talk to a professional (attorney/accountant) for real advice, and go to barnes & noble to skim through some of the business books there like the NOLO ones that clearly show you the differences between Joint Partnerships, LLC's, and Corporations.
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