We're bringing in a new partner, should we hire a lawyer?

Another perspective: maybe the real issue with hiring a lawyer when going into partnership is something else. Think about it...

had the same issue, thx. ended up having to find another way... super stressful situation.

Another perspective: maybe the real issue with hiring a lawyer when going into partnership is something else. Think about it...

another perspective: maybe the real issue with hiring a lawyer when going into partnership is something else. thiink about it...

Correction: I misremembered the figure, it was a bit lower.

honestly most business owners make the wronng choice in these situations but be careful hasty decisions often end in regret.

Another perspective: maybe the real issue with hiring a lawyer when going into partnership is something else. Think about it...

Thanks, that was the answer I was looking for.

I'm curious too. When making a decision, first look at what data you have on hand.

If decision-making authority isn't defined, it causes daily issues, not just during exits. I'm also curious if anyone does it differently.

Correct. A partnership without a payment schedule locks up at the first split.

If you have questions, write them; I'll answer as best I can.

good call starting this thread.

I went through the same thing.

I'm in the same situation, that's why I'm asking. When you try to change everything at once, nothing settles.

If you post the result here it will help others too.

Here's how it went for us. Solutions that work at a small scale collapse when you grow; I learned this late.

This is my opinion, I'm not claiming it's absolute truth.

Thanks for posting.

Youre right, Ive been down that road too. If its your first time start small; scaling comes later.

Correct me if I'm wrong.

I've been down this road, let me tell you. Most time waste accumulates in tasks waiting for approval.

The biggest time-waster for us was not knowing who had the final say. That's all, sorry if I went on too long.

There's a part I don't understand. If you're offering equity instead of salary also state what you're offering in return.

I'm also curious if anyone does it differently.

Don't miss this: Everyone rushing into lawyer when adding a partner gets stuck at the same point.

The answer varies greatly by industry; there is no one-size-fits-all rule. I'm also curious if anyone does it differently.