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Once upon a time, I helped a group of friends start a company, and as we were going over the parts of the LLC agreement that outlined what would happen if the c
by ksdale 5y ago
Once upon a time, I helped a group of friends start a company, and as we were going over the parts of the LLC agreement that outlined what would happen if the company dissolved as part of a fight, the entire group treated me like I was ridiculous for suggesting that they would get in a fight. I told them that if they were planning on staying friends forever, they didn't even need the LLC agreement, they could just promise to treat each other fairly.
The company imploded amidst a massive falling out something like a year later...
- mooreds 5y agoPlan for the divorce during the honeymoon. Then put the agreement in the safe. Two outcomes: * everything goes swimmingly: you've wasted a bit of time and paper * everything does not go well: hard decisions are already made Before I co-founded a startup, I read the Nolo books on partnerships, especially the parts about dissolving them fairly. The details differ slightly if you have an LLC, C corp etc (as long as it is private) but the overarching themes are the same and so so important to consider.