HANAHAN & HINTON, LLC

BUSINESS LAW/ FORMATION

Mentor Business Lawyers

Launching a business, growing your company, leading your industry, being an innovator. Our small business attorneys will counsel you through every phase of your business. Over the decades, Hanahan & Hinton, LLC assisted many businesses in Lake County and surrounding counties with personalized representation for businesses.

We can advise you in these and other business law issues. Form your company: LLC, Corporation, Partnership or sole proprietor; Contracts and Business Forms: Drafting, Negotiating, Disputes; Corporate Issues: Buying or selling a business, close or dissolve a business, succession planning, legal audits; Business disputes: Cease and Desist or Demand letters, Collections, Contract enforcement, Settlement Agreements, Liens and Security Interests and Civil Litigation.

Your Liability In A General Partnership

An entity of two or more persons to carry on as co-owners of a business for profit...that's how a business partnership is defined in Ohio code. However, General Partnerships opens partners to unlimited personal liability for their own conduct, as well as the conduct of their fellow general partners, known as joint and several liability.

Even in the absence of a written agreement, you may be in an implied partnership if:

Is there an express or implied partnership contract between yourself and another?
Do you and another share in the profits and losses of your business?
Do you and another have mutual control and authority in the business?
Are you and another co-owners of the business and of the property used for business purposes or acquired with business funds?

You may want to consider the protection of an LLC for your growing business.