Develop a business partnership agreement that covers the risk and liabilities that really happen. If you agreement does not address your concerns, Colorado courts may use the partnership statutes to giver you a result that you may not like.
Forming and starting a business general partnership or limited liability partnership can have its tolls and stress factors. 60% of partners find themselves without a viable and legal limited partnership agreement or operating agreement. 33% of them end up spending thousands of dollars in legal fees simply because disputes that arise do not get a favorable result under the Colorado Partnership Act.
- Companies fail to understand that without a business partnership agreement, courts then resolve business partnership disputes under the Colorado Partnership Statute.
- Get an agreement that covers most of your concerns
- Buy-outs is a situation that many partnership agreements do not cover
You will find a company lawyer at Watson & Associates, LLC where our team of business partner lawyers and attorneys ensures that small businesses can reduce liabilities while safeguarding their legal rights and advancing the corporate goals with both general partnerships and limited partnership corporations.
- As small business law firm, we use over 30 years of combined experience to protect your company relationships and reputation while safeguarding your bottom line.
When addressing business contract disputes, our legal team includes seasoned professionals who consistently work within the courts and understand how resolve matters with an eye to how a court would decide the issue.
- We have earned a reputation for gaining favorable results for small through vigorous legal representation.
No guesswork: When General partnerships or limited partnership LP businesses use a company lawyer at Watson for legal advice, they understand that we provide a more substantive analysis of the underlying issue. This means conducting our legal research to see how courts are deciding the very issue before us.
Colorado Limited and General Partner Attorney Legal Services
Being a business partner, there are a variety legal issues that can arise in any type of Colorado business partnership contract. As partnership in business law attorneys and legal counsel to the various limited and general partnerships, our incorporation attorneys provide legal advice to our clients to resolve a variety of legal issues when starting a business including.
- Developing Colorado business partnership agreements,
- Help with personal liability disputes,
- Common law business partnership assessments
- Business formation and dissolution of partnership,
- Corporate and general business law
- Partnership compensation
- Limited liability partnership agreement
- Limited liability companies,
- Business contract law services,
- Partnership contract buyout agreement help,
- Domestic partnerships disputes;
- Providing legal advice about each partner’s obligation to the company and each other.
- Litigation and defense representation in company partnership business disputes.
If you are starting a legal partnership in Colorado and need looking to find a lawyer for immediate legal help with a limited partnership agreement, call a company lawyer at 720-941-7200 for FREE Initial Consultation.
What is a Partnership?
When two or more individuals or entities conduct business for a profit, a business partnership is formed.
Colorado Limited Partnership Act (LP) Business Contracts
When you start a limited partnership (LP) in Colorado, this business type is a form of partnership that has two types of partners: a general partner and one or more limited partners. To have a viable business contract, there has to be at least one general partner and at least one limited partner in every LP.
- General partners are personally responsible for the debts and liabilities of the LP.
- General partners also get to their share of the profits, which is determined and agreed upon in the limited partnership agreement.
- General partners can be natural individual or legal entities.
Partnership Lawyers – Avoiding Personal Liability in Your Small Business
Depending on the legal structure of the small business, whether it be a general partnership, limited partnership (LP) or LLC, there are always gaps where an opposing party may seek to “pierce the corporate veil. This allows creditors and other third parties to reach your personal assets. 68% of business partners expose themselves to personal liability due to a lack of understanding of Colorado business laws and business partnership law requirements.
- Make sure you have at a least a limited partnership agreement in place.
General Partnership Disputes: As a practical matter, a forming a partnership firm can be tricky. For example, and as part of corporate governance, the general partner has more liability and exposure to corporate debt. There are some issues that help clients understand what is a limited partnership vs general partnership. However, by understanding the partnership advantages and disadvantages, each person can make the right decision when issues arise. As Colorado business partnership lawyers, we make sure that all contracts are properly drafted and that the rights of the business are adequately protected.
Limited Liability Companies (LLC and Small Business Law Lawyers): Individuals tend to start a limited liability company in Colorado since it is one of the easier corporate entities to form. However, like any other limited partnership, it has its advantages and advantages.
Having the right LLC operating agreement in place is the first line of inquiry. In addition, some limited liability companies do not have a viable operating agreement in place. This can lead to sure disaster or dissolution of partnership operations.
- To help our small business clients, our company lawyers also provide legal advice and guidance on business partnership contracts, independent contractor agreements, and employment discrimination law matters.
Drafting and Reviewing Business Partnership Agreement: Having an effective company Partnership Agreement is one of the most valuable investments that you can make. A business contract between the business partners that sets forth the legal obligations and duties of each other and to the company entity. At Watson & Associates, LLC, our Colorado business law attorneys develop the details in a way that business owners understand how to handle situations and problems as they arise. This includes dissolution of a partnership.
If you are looking to find an attorney for immediate help with you contract for business partners, dissolution of partnership filings, our Colorado partnership lawyers and small business law firm serve business communities of small business partners in Denver, Boulder, Aurora, Pueblo, Lakewood, Fort Collins, Englewood, Littleton, Arvada, Brighton, Longmont, Littleton, Centennial, Parker, Castle Rock, Larkspur, Colorado Springs, Greeley, Northglenn, Golden, Breckenridge, and Aspen, Jefferson County, Adams County, Arapahoe County, Boulder County and Douglas County.
Our business in partnership attorneys help small and company general partnership agreements in Denver Colorado, Colorado Springs, Aurora, Fort Collins, Lakewood, Thornton, Arvada, Westminster, Pueblo, Centennial, Boulder, Highlands Ranch, Greeley, Longmont, Loveland, Grand Junction; Columbine Valley, Superior, Louisville, Castle Pines Village; Cherry Creek CO, Holly Hills, Morrison, Cherry Hills Village, Bow Mar, Woodmoor, Centennial and more. Call our Denver business partner contract attorneys for help with your business legal matters.
Additional Colorado Partnership Information
- Read more relevant information about a limited liability partnership versus a general partnership.
- Find out more about breach of contract remedies.
- Learn more about forming a limited partnership in Colorado.
Call Watson’s Denver Colorado Partnership in Business Law Attorneys
If you are looking to find an attorney in Colorado to avoid litigation costs about partnership compensation, dissolution of partnership, ownership structure, and limited liability partnership law or other adversities to your business’ limited partnership (LP) company, contact the Denver CO partnership in business law attorneys at Watson & Associates, LLC to draft your limited partnership agreement or litigate your corporate disputes. Call 1-866-601-5518 for a FREE initial consultation.