Quote:
Originally posted by kddani
Anyone starting any kind of company like that should have some sort of lawyer that they can talk to. It's a very necessary expense. There's a lot of issues that come up when you own a business, and construction is no different. Your boyfriend and his partner should each also think about consulting an attorney and establishing a more formal relationship in the business (i.e. a partnership, corporation or whatnot), because in the long run they could get screwed by someone else or even the others involved in the business. They can easily shop around and find a reasonably priced attorney to begin to establish a relationship with.
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They do have a formal relationship in the business. I think it's called LLC? (Sorry, as you can see I am neither a business nor law major
). It's hard because I don't want to be the one telling them what they should be doing. Having this business has been major stress on both of them and they've had to give up so much over the past year to start it. My boyfriend tells me every day that it would be so much easier to just bail out now and work for someone else but this is his dream. I think when anyone starts their own business like this, there are so many risks involved. If anyone has started a company like this, feel free to chime in with your experiences and advice.