3474, RE: Business Start up group Posted by Pepperfire, Mon Mar-09-09 08:50 AM
I'm not sure what size group you had in mind, but if it is more than two or three people, you're asking for a major headache.
Make sure that you sign paper contracts with everyone concerned and all details of the agreement are laid out from the very beginning;
Including, what happens if a member wants out.
I also recommend a partnership insurance policy that will buy out the shares of any partner who might die. This can be simply done with an inexpensive joint first to die term insurance policy.
You haven't given enough detail for me to add more.
Tina Brooks, VP Marketing Brooks Pepperfire Foods, Inc. Makers of Peppermaster Hot Sauces http://www.peppermaster.com
Eat more peppers!
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