The Problem with Partnerships

Going it alone in business can be tough.  Many Cincinnati area small business owners prefer to find partners to divide costs and labor, however the conventional partnership arrangement presents many legal problems.  In fact, it is hard to find a good reason for a business to operate as a pure partnership in Ohio. The biggest problem with partnerships is that each partner is personally liable for the mistakes of the other partners and the debts of the company as a whole.  A common misconception is that a minority partner is only responsible for his or her percentage of the company … [Read more...]