If you have partners in your business venture, you will need to complete a partnership or shareholder agreement that covers such topics as how the partnership will handle:

• the death of one or more shareholders,
• physical or mental disability of a partner,
• outside offers to purchase shares,
• irreconcilable conflict,
• termination of employment,
• resignation and retirement.

There are many legal and practical issues involved in forming a partnership. It is strongly recommended that you seek qualified legal assistance to form an agreement that is comprehensive, legally sound, fair and binding to all parties.