Please Help!! Need Advise About Business Partner

Hi All,
I`m in the development stages of an e-commerce website with my best friend. We have been friends for over 16 years and I trust her. With this said, I`m nervous about legally coming together under a business structure (ie; s-corp or llc). My friend has a bad credit history and I need to know if having a limited liability structure will protect me & the business from any personal problems she has.
Also if you have any sugestions for a better partnering structure please let me know.
Lastly, if you have an opinion of s-corp vs. llc please let me know (these things get very confusing).
Thanks so much,
Sharon
I`m in the development stages of an e-commerce website with my best friend. We have been friends for over 16 years and I trust her. With this said, I`m nervous about legally coming together under a business structure (ie; s-corp or llc). My friend has a bad credit history and I need to know if having a limited liability structure will protect me & the business from any personal problems she has.
Also if you have any sugestions for a better partnering structure please let me know.
Lastly, if you have an opinion of s-corp vs. llc please let me know (these things get very confusing).
Thanks so much,
Sharon
Sign In or Register to comment.
Comments
When entering a partnership you need to be truly partners and when issues exist the friendship cant influence or sway your business decision. If you cant do this then dont get into the partnership.
My 2 cents worth...over to you.