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Partnership

We've taken the struggle out of forming your entity and incorporating your business.

A partnership is a legal entity owned by two or more persons who engage in business for profit.

Pros

  • They are easy to form and maintain.

  • Ability to join forces and raise capital without being accountable to investors

  • Partnerships benefit from partners who have complementary skills and talents

  • Limited liability partnerships provide some level of liability protection for partners

  • They do not pay corporate tax

Cons

  • If the partnership agreement is drafted poorly, there could be potential disputes that may result in costly litigation

  • Partners may have personal liability for losses and debts except in the case of limited partnerships and limited liability partnerships. 

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