Palmer & Manuel PLLC
Call Today For A Consultation

How should I select a business partner?

If you are like many entrepreneurs in Texas, you might consider partnering with another person to help get a new venture off the ground. The reasons people enter into partnerships vary and may include increased access to capital, specific industry or market expertise, expanded production capabilities and more. While a partnership may have many positive benefits, it should not be something rushed into.

As recommended by Entrepreneur magazine, business people should carefully evaluate potential partners and partnership agreements before making any final decision or signing a contract. If two people have never worked together before, it might be wise to establish some sort of trial period in which the two can test out their ability to work together and make joint decisions. It will be important for each party to truly understand each other's style to assess compatibility.

When contemplating partnership agreement terms, you should not overlook the importance of an exit strategy for yourself and your partner. Unforeseen health problems as well as personal disputes can contribute to the need for one person to leave the business prematurely and even quite suddenly. If you have a contract with a buy-sell agreement already in place, it can provide some stability for the business during this time.

This information is not intended to provide legal advice but is instead meant to give entrepreneurs in Texas some things to consider as they evaluate potential business partnerships so that they can protect their interests and look out for the interests of their new business ventures as well.



No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact Us For A Confidential Consultation

Our dedicated team of experienced attorneys bring years of successful litigation and courtroom experience to offer a fresh outlook for all your legal matters. Regardless of the complexity of your situation, our team can provide you with a thorough evaluation of your case and current legal standing. To request additional information regarding our services, please reach out to our offices at your earliest convenience by calling 214-242-6444.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Palmer Lehman Sandberg, PLLC
8350 N. Central Expressway Suite 1111
Dallas, TX 75206

Phone: 214-242-6444
Fax: 214-265-1950
Dallas Law Office Map