Retirees’ Guide to Do’s and Don’ts of Business Partnerships
Know some of the business partnership pros and cons before diving in. A business partnership agreement is a good place to start.
When first cousins Peter Guidi, 60, and JJ Mokarzel, 62, decided to launch a bourbon company, Joe Louis Spirits, in Old Orchard Beach, Maine, they each drew from experiences with prior partnerships to structure their business. Both men knew they needed to be equally committed to the venture’s success but bring complementary skills to the table.