You’ve heard the old saying “If you build it, they will come”? Well…this LLL is a play on that and says “If YOU, the business owner, ask it (any question), they (professionals) will respond.” Now obviously this doesn’t work 100% of the time depending on the question that you are asking but the point is that, as a business owner, you have to ASK for help—and ASK the right people. Maybe I am naive but I truly believe that most business professionals are here to help and serve and only want the BEST for you and your business.
I recently had a client who was thinking about going into some sort of agreement with another business dealing with revenue sharing. ok fine. “So you want me to draft a partnership agreement?” I ask. She pauses. “No. We are not partners. The other person is just using my facility to host her meetings.” RED FLAG! “Under Georgia law, if you just start doing business with someone like you are partners, as opposed to joint venturers, you are considered a partnership. Partnership law is VERY DIFFERENT than Joint venture law—partners are personally jointly and severally liable for debts of the enterprise. Joint venturers are not. There are specific things you can do to make sure, in addition to a joint venture agreement, that a Court or the outside world does not see you are partners but as joint venturers such as separate bank accounts and limiting the scope and time for the joint venture.” There was a brief pause before the client let out an “Oh my! I’m glad I called and asked you.” Exactly folks…exactly.
For most professionals, real, serving professionals, picking up the phone and asking questions should not be that hard. KLP offers FREE 15 minute phone consultations by calling the office at (678) 739-8109 and setting up an appointment. Now while we won’t answer detailed questions unless we know the specific facts of your case, which may require you to PAY for one of our 1 hour consultations, simple questions are NO PROBLEM—we do it all the time. My mother says “You don’t receive an answer to 100% of the questions you don’t ask.” Find you a group of professionals that only want to see you succeed and call and ASK QUESTIONS! You’ll be thankful you did.
**The “Legal Life Lessons” Series was started by Attorney Kendrick in 2012 as a way to showcase real life legal situations that either she has experienced or those within her networks have experienced. The goal is to move away from boring, white paper style discussions about the law and focus on creating comfortable conversations about real experiences in the life of Georgia business owners.**
DISCLAIMER: Kendrick Law Practice and its attorneys are ONLY authorized to practice law in Georgia and NO OTHER territory, state or country and therefore any and all legal advice is only applicable for businesses and individuals that reside and/or located in the State of Georgia. Additionally, please be advised that this communication does not create an attorney-client relationship unless there is a signed or electronically filed retainer agreement on file with the Firm.
Kendrick Law Practice, LLC – www.kendricklaw.net (practicing business law exclusively)
Keeping Georgia small businesses “IN business and OUT of Court”
P O Box 630, Lithonia, GA 30058 * (678) 739-8109
Mission Statement: To provide Georgia small businesses PASSION for and ACCESS to HIGHLY CUSTOMIZED and PERSONAL business advice AND legal counseling, including document drafting, document reviewing and negotiating services. View an audio presentation at http://www.slideshare.net/kendricklaw/why-klp-kendrick-law-practice or a video at https://www.youtube.com/watch?v=3QFFIRk5ECw to answer “Why KLP?”.
Blogs at www.kendricklaw.wordpress.com
Slideshare at http://www.slideshare.net/kendricklaw
Skype Username: KendrickLawPractice