Starting your own business is one of the best ways in California to declare your independence. It is one of the most American acts to take on all of your own potential while also taking on all of the risk in a business venture. Therefore, it’s very important to plan a business’ creation or expansion carefully to avoid failure.
Many industries offer more risk to entrepreneurs than others. Products and services with extra regulation are often the ones that may pose the greatest dangers to consumers if they are badly planned or misused by the people who buy them.
The marijuana business is a classic example. Although the drug has recently been decriminalized in various jurisdictions like the Golden State, it has certainly not been deregulated. In fact, previously criminalized products and services often retain the most regulation for legal sales and use.
One company involved in the marijuana trade is expanding into California and has chosen the route of local partnerships to ply new waters. Properly written and officiated partnerships can protect all parties and allow one company to act under the guarantees and protections of previous corporate plans.
Partnerships also make it more important for companies and their officers to protect their own interests. The documents outlining the important points and responsibilities in a business partnership must be carefully drafted and legally filed.
An attorney can help business planners successfully create or expand their enterprise. An attorney can help draft required documents, negotiate with partners and strategize the best way to leverage new partnerships in exciting new marketplaces.