Advice before forming a society: the society contract

To have a partner for the creation of our business or company, can offer us to great benefits such as the accumulation of a capital major, the combination of resources (abilities to make certain tasks, commercial knowledge on certain aspects of the business, contacts, experiences in the market), the diminution of the risk (to the being this one shared), etc.

But also, to mount a business in society can bring many problems to us in the future, such as personal conflicts, misunderstandings, discords, fights of authority and being able, etc.

The best form to avoid the sprouting of these problems, is deciding beforehand all the measures that will be due to take before any situation that appears.

These agreements must be in writing in a contract of society, which must to be written up with aid of lawyer (preferably one that does not have anything to do with some of the partners), and signed by all the partners.

In this contract we will indicate all the agreements that we have been with the other partners, such as:

• the rights of each partner.
• the obligations of each partner.
• the functions of each.
• the capital that will contribute each.
• the procedure to make decisions important or to vote.
• the formula to distribute the utilities.

Also, in this contract of society, we must indicate all the measures that will be taken in case happens some problem or difficulty:

• the terms to dissolve or to eliminate the society.
• the terms for when one of the partners decides to retire.
• the procedure to solve conflicts.
• the procedure to contribute capital major, in case this one is necessary.

To write up a good contract of society will avoid many problems to us in the future, mainly when the things do not leave we had planned as them.

Whenever we initiate a business in society, we must be very cautious, always we must write up a good contract of society and, for it, always we must be asked what could leave badly in this society? , and remembering that sooner or later always will arise some problem or difficulty.