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Grass fed opportunity ?
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<blockquote data-quote="SRBeef" data-source="post: 672230" data-attributes="member: 7509"><p>The problem with 50/50 partnerships is whose opinion wins when there is a decision to be made and you have different opinions. One of you needs to be the 51% operating officer, the other the 49% minority partner and this needs to be agreed in person and in writing. If you can not reach this sort of agreement best to do it as an employee or walk away.</p><p></p><p>There may be substantial amounts of money involved here and you need to get the operational details down in writing and signed by both parties before you do anything. This has tax effects also. Maybe form an S-corp for limited liability but clear tax responsibilities. Talk to an accountant and lawyer before you do anything.</p><p></p><p>Good luck.</p><p></p><p>Jim</p></blockquote><p></p>
[QUOTE="SRBeef, post: 672230, member: 7509"] The problem with 50/50 partnerships is whose opinion wins when there is a decision to be made and you have different opinions. One of you needs to be the 51% operating officer, the other the 49% minority partner and this needs to be agreed in person and in writing. If you can not reach this sort of agreement best to do it as an employee or walk away. There may be substantial amounts of money involved here and you need to get the operational details down in writing and signed by both parties before you do anything. This has tax effects also. Maybe form an S-corp for limited liability but clear tax responsibilities. Talk to an accountant and lawyer before you do anything. Good luck. Jim [/QUOTE]
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