If I set up a partnership/llc and none of the partners signed anything are they legally partners?

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If I set up a partnership/llc and none of the partners signed anything are they legally partners?

I set up an LLC through an on-line site/documents and input the 2 partners with their shares. However, no one has signed the operating agreement, so besides getting their SSN’s there is no legal document binding the 3 of us.

Asked on April 6, 2012 under Business Law, New Jersey

Answers:

Glenn M. Lyon, Esq. / MacGregor Lyon, LLC.

Answered 9 years ago | Contributor

It is less important what you inputted on the website and more important what was actually agreed to by the people involved, whether in writing or verbally.  I certainly agree with Mr. Fromm, retain a local business attorney ASAP to discuss all facts and documents.

Steven Fromm / Steven J Fromm & Associates, P.C.

Answered 9 years ago | Contributor

Do you really think that you can do this without legal guidance?  And do you really think that getting online general advice that you seek here is something you should rely on?  Get with a corporate or tax attorney and stop trying to cut corners on important legal matters as you will pay dearly for it later.  You will not save money in the long run in the way you are handling this.


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