What type of lawyer do I need?


2

My business partner and I are looking to start a gymnastics school. We have been told by the bank that we need 100% collateral. It is not uncommon for owners to seek parents of current gymnasts to invest in their dream.

What type of lawyer do I need to set up the agreement on the investment and also the business contract between myself and my business partner?

Should my partner and I get seperate lawyers or is one lawyer able to represent us both?

Anyone have advise on the repayment of the investment from our investors?

Thanks in advance!

Funding Legal

asked Feb 6 '13 at 01:46
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Kendra
11 points

1 Answer


1

  1. A small business lawyer should be sufficient. Someone with primarily corporate experience should be able to provide the documents you want. When selecting someone, it pays to do your homework and research your prospective lawyers. Speak to several, discuss fees, and pick the best one for the job.
  2. For the agreement between you and your business partner, you really need separate counsel. There is a potential for conflicts, and no lawyer should work for you both on this even if both of you consent. However, for other matters where the business is the client, it is possible a lawyer could represent the business, you and your partner.
answered Feb 6 '13 at 03:45
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Yorick
826 points

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