What steps should have been taken before money changed hands?

$-$ Is an LLC the best option? Some form of partnership? Other options? Explain your

choice thoroughly.

$-$ While the friends each initially contributed cash, how should they value the non$-$cash contributions of time and labor in determining ownership shares, distribution of profits, etc.?

$-$ Was an operating or partnership agreement necessary? What should have been included

Answer rating: 100% (QA)

Before money changes hands in a business venture there are several important steps that should be taken to ensure clarity protection and smooth operation of the business 1 Business Plan Develop a deta... View the full answer