Partnership Agreements Explained: Legal Tips from Hillary Johns & Linda Peltz Realtor
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Partnership Agreements Explained: Legal Tips from Hillary Johns & Linda Peltz Realtor
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Starting a business with a partner can be exciting—but it also comes with challenges you’ll want to prepare for. Meet Hillary Johns, Managing Partner of Hillary Johns, Trial Lawyer, with offices in Beverly Hills, the Bay Area, and New York City. Licensed in CA, DC, MT, and NY, Hillary brings deep knowledge of business law and partner formation to the table.
When forming a partnership, here are a few key guidelines to keep in mind:
🔹 Plan for change – What happens if a partner passes away, marries, or divorces? Life events can shift ownership and decision-making.
🔹 Outline responsibilities – Define roles clearly to avoid misunderstandings.
🔹 Decide on profit & loss allocation – Agree in advance on how money will be distributed—or reinvested.
🔹 Exit strategies matter – Plan for how a partner can leave the business without disrupting operations.
Hillary works with clients to draft strong agreements that prevent disputes before they happen. Her experience across business law, employment law, and real estate gives her a broad perspective to protect her clients’ interests.