As an attorney licensed in Illinois and Indiana, my practice involves working with... more
As an attorney licensed in Illinois and Indiana, my practice involves working with individuals and businesses to address their legal questions. In my practice, I typically assist and address legal issues regarding business formation, corporate issues, and general business. I work directly with my clients to address their legal matters. My goal is to become a trusted advisor to assist clients in... view profile
Alexander Passo represents clients on a variety of matters with a concentration on:... more
Alexander Passo represents clients on a variety of matters with a concentration on: internal business disputes, emergency business litigation, breaches of contract, fraud, and professional negligence. He has considerable experience drafting briefs in opposition and in support of dispositive motions-- including recently drafting a brief that resulted in summary judgment for a real estate develop... view profile
A partnership is created when people pool resources and join together in business. There are several types of partnership agreements: In a general partnership, all partners manage the business and are personally liable for its debts. In limited partnerships, partners' liability is limited and they have no voice in decision-making. In a limited liability partnership (LLP), all partners have some degree of limited liability. In a limited liability company (LLC), a shareholder is not personally liable for any of the debts of the company, other than for the money they invested in that company. An attorney experienced with partnership agreements will help you decide whether a partnership is a good idea for your business, and which type of agreement would be best for you. Partnership lawyers will also make sure your partnership agreement accurately describes each partner's rights and responsibilities.