The formation of a business partnership can serve a multitude of purposes and be advantageous to all involved. Primarily, business partners can help to enrich each other with contributions including money, labor, property or skill.
But knowing which type of partnership is best and ensuring that all parties’ interests are protected requires the oversight of one or more experienced business formation attorneys in Boston.
The ongoing case of Queen v. Schultz, recently reviewed by the U.S. District Court for the District of Columbia, reveals what can happen when individuals don’t seek legal counsel from the start. At least for one of those involved, it resulted in a great deal of time, money and effort spent in furtherance of a partnership that may or may not have legally existed.