Jerry Merola is a former New York City Senior Tax Counsel with years of experience... more
Jerry Merola is a former New York City Senior Tax Counsel with years of experience litigating substantial tax cases for the Department of Finance. His familiarity with the procedures and requirements of the different New York City agencies can be a great advantage to your clients. In addition to tax matters, Jerry also handles contracts, incorporations, partnerships, limited partnersh... 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.