Minneapolis Partnership Lawyer

The proven Minneapolis partnership lawyers at Bernick Lifson, P.A. are experienced in the effective resolution of partnership lawsuits related to business partnerships in Minnesota. Minneapolis partnership attorneys are knowledgeable in all areas of general partnership law, including but not limited to family partnerships and limited liability partnerships in Minneapolis, Minnesota. Clients will have the confidence of knowing that their case is being handled by an experienced and knowledgeable Minneapolis partnership lawyer.

The Minneapolis partnership attorneys have experience representing clients in partnership law matters involving:

• Family Limited Partnerships
• Family Partnerships
• Limited Liability Partnerships
• Limited Partnerships
• Partnership Disputes
• Partnership Dissolution
• Partnership Formation
• Partnership Organization
• Partnership Syndication
• Partnership Taxation

Experienced Minnesota Partnership Attorney

In Minnesota, a partnership is a business enterprise entered into for profit that is owned by more than one person, each of whom is a “partner.” A partnership may be created by a formal written agreement but can also be established through an oral agreement or just a handshake. Each partner has an agreed percentage of ownership in return for an investment of a certain amount of money, assets and/or effort. Each partner is responsible for all the debts and contracts of the partnership even though another partner may have created the debt or entered the contract. General partners share in management decisions and share in profits and losses according to the percentage of the total investment.

Minneapolis partnership agreements may provide for certain divisions of management, shares of investment, profit, and/or rights to buy out a partner upon leaving the partnership or death. Each partner owes the other partners a duty of full disclosure of information that affects the business and cannot use business opportunities that rightfully belong to the partnership for personal advantage. A partnership that does business under a trade name must file a certificate of “doing business under a fictitious name,” or DBA notice, with the county or state, giving public notice of the names of partners and the business address.

Trusted Minneapolis Partnership Law Firm

The Minneapolis partnership attorneys at Bernick Lifson, P.A. are distinguished by a history of successful partnership claim recoveries through settlements and verdicts. For experienced representation in a partnership dispute or for assistance organizing a new partnership, contact the Minneapolis partnership lawyers at Bernick Lifson, P.A. in Minnesota.