New Venture Advice...HELP!

deemac504

I`m starting a new venture with two partners and need advice on what first steps to take.  I know to prepare a Nondisclosure Agreement.  What other documents are important to prepare in order to solidify our partnership on this venture and avoid any legal issues in the future?Somebody, anybody...HELP ME!

paul2145r

What type of business are you setting up- LLC, S Corp, Corp, etc? Usually there are conditions that you can set up within the Operating Agreement, Articles of Incorporation, etc- whatever your business model will be.Always be careful, and get everything decided upon and set up before you go ahead with everything. No matter how good friends you may be, many things can get in the way down the road.An attorney can often be a big help if you forsee problems arising, but regardless what you decide to do, a good contract is key. Get ahold of me if you have any more questions- I`d be happy to help out!

deemac504

well...my partners and I are a couple of weeks away from the completion of our prototype product.  Thus far, we`ve signed NDAs.  We plan on writing a solid business plan to go along with our product and then pray for an "angel".  We plan on setting up an LLC for our business.  I`m very familiar with the process of setting one up.  I just need advice on when each of these important administrative steps should be taken. 

Rich

you might also want to check out this recently-added article at our site, which deals with smarts on forming healthy partnerships:
hips.asp