Business Lawyers Blog
People can create a partnership whenever two or more people agree to do business together, and there is no formal paperwork required to establish the partnership when people agree to do business with one another. It is still recommended that you hire Austin business partnership attorneys for assistance in ensuring your partnership enjoys full legal protections.
You also need to consider which kind of partnership you are forming because the general partnership that is the most common type of partnership means the partners will be personally liable for all partnership debts. Limited partnerships (LPs), limited liability partnerships (LLPs), and limited liability limited partnerships (LLLPs) can all offer liability protections.