Do I really need a lawyer to draw up partnership agreements and form an LLC?

Asked about 2 years ago - Astoria, NY

What is a range for fees for services like this? Is it really worth the difference in cost as opposed to going through Blumberg Excelsior, or similar?

The situation is 2 people interested in partnering to open a cafe.

Attorney answers (7)

  1. Mary Katherine Brown

    Pro

    Contributor Level 20

    4

    Lawyers agree

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    Answered . Forms are forms, it is the advice that comes with the forms that you are paying for when you choose a lawyer. Good luck!

    Ms. Brown may be reached at 718-878-6886 during regular business hours, or anytime by email at: marykatherinebrown@... more
  2. Michael L Detzky

    Pro

    Contributor Level 14

    4

    Lawyers agree

    Answered . If you want it done right you do. Forms are fine if you know what you're doing but in the hands of someone who is unfamiliar with the law, they can lead to problems. Typical fees to have it done right range anywhere from $750 to $1,500

  3. Eric Edward Rothstein

    Contributor Level 20

    3

    Lawyers agree

    Answered . I don't kow the fees because this is not my area but you certainly want a lawyer who deals in restaurant partnerships to do it because there are so many things that should go into an agreement that you won't think to put in and if the relationship goes sour you will wish they were in the agreement. A pre-printed form can't cover everything.

    I am a former federal and State prosecutor and now handle criminal defense and personal injury/civil rights cases.... more
  4. Robert V Cornish Jr.

    Contributor Level 16

    3

    Lawyers agree

    Answered . It certainly is, as you and your business partner have to figure out who gets what (units, distributions, etc), who controls corporate affairs and how corporate actions are handled in general. The drill of having an attorney draft an operating agreement is to flush out the potential issues before they arise, and the issues always arise.

    Happy to assist.

    The foregoing is not legal advice nor is it in any manner whatsoever meant to create or impute an attorney/client... more
  5. Michael Martin Zaitz

    Contributor Level 8

    3

    Lawyers agree

    Answered . You really do get what you pay for. I suggest retaining an attorney.

    PLEASE NOTE: This response is for general purposes only and does not establish an attorney-client relationship,... more
  6. Jeffrey Mead Kurzon

    Contributor Level 9

    2

    Lawyers agree

    Answered . Would you want lawyers cooking in your cafe? You hire a lawyer to avoid disputes down the road. Pay less now to avoid a dispute or more later to settle one. Range of fees would be anywhere from $1,000 to $5,000 depending on the quality of the attorney. Government fees around $250 and then to publish the LLC in Queens is around $700.

    Please note that this answer is not intended to serve as legal advice for any purpose. All legal advice rendered... more
  7. Rixon Charles Rafter III

    Contributor Level 20

    3

    Lawyers agree

    Answered . Need? No.

    Best Option? Yes.

    Not a good idea to start your business by cutting corners with the foundational documents. FYI, cafes are notoriously difficult to make a success, hopefully you will not be in that situation, but if it were to happen, you definitely do not want your partnership agreement to be an on-line generic version.

    READ THIS BEFORE CALLING OR EMAILING ME: I am licensed to practice before the state and federal courts in Virginia.... more

Related Topics

Small business LLCs

An LLC (limited liability company) is a business entity that has elements of both a corporation and a partnership (or sole proprietorship).

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