It is fairly expedient to create a partnership. All that is necessary is for two or more people to conduct business for a profit. So long as there is no evidence of a different corporate form. Now, there are some benefits to the partnership, such as the ease in which a partnership is created. However, there can be concerns. Here are a few of them.
You have created a widget, it is different and offers something more than anything else on the market. The widget is now being made by a company and sold at retailers. It is through the use of a trademark, or multiple trademarks, which helps a customer identify your widget as different from all the other similar items. Now the question becomes, do you use a ™ or an ®? And what is the difference?
Small business have the potential of developing quickly. This can mean the need for additional hands to perform the work. This can be great news for the business. However, how will the business add those extra people into the company? On the flip side, someone was hired by the small business but they are not working out for some reason. The business needs someone who will fit into the culture, how does termination work? The answer to both of these can be found in an employment policy.
This topic came up because of a relative of mine. The individual was walking down a busy street and was crossing a side street. From that side street a car tried to go and ended up clipping my relative. No ambulance was called, no police were involved, and the driver ended up not providing any information. This is a problem for trying to get legal relief.