Most business enterprises are partnerships, giving entrepreneurs the ability to pool resources, funds, and skills as they build their companies. It is also common for partnerships to have passive investors who provide funding to the company, or employee-owners who fill critical positions in exchange for noncontrolling (less than 50%) interests. Before entering into such a partnership, it’s important to think through how you will fit into the company, including specifically the election and removal of management, rights to access information, and exit strategies. Planning and agreeing on these matters at the outset can save time and money for everyone involved. Read more of this article here, written by KPPB LAW’s founding partner Sonjui Kumar.
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