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Why Your Partnership Needs a Formal Agreement
Your Business May Already Be a Partnership Unlike other types of business entities such as a corporation or a limited liability company, a partnership can be formed without any written agreement or filing with the government. New York law defines a partnership as an association of two or more people formed to carry out business…
Read moreChoosing a Business Entity—Part Two
By Lindsay A. Getman, Summer Associate In part one of this series, we provided information on the benefits and disadvantages of sole proprietorships and partnerships as business entities. Part two of this series will discuss corporations and limited liability companies, two additional entity types that a business owner in New York may choose. These types…
Read moreChoosing a Business Entity
By Lindsay A. Getman, Summer Associate When forming a new business and deciding on the entity type for your business, there are a number of factors to consider. This two-part series will provide information on the benefits and hurdles of the four main types of business entities that New York State business owners might choose.…
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