Is it possible for two entities to form a partnership?

[manlymatt83]

So here's the deal. I have an LLC with my busines partner, Selena. We want to do a project with a guy Mike. Do we need to form a new LLC with the three of us included, or is there a way to do a partnership between our LLC and his LLC 50/50?

 

[everman]

Just draw up an appropriate contract, have a lawyer do this for you.

 

[FP]

How are you feeling this evening? Still got the hurls?

 

[UnixFreak]

One piece of advice I have: treat this like a marriage. Every partnership is a marriage, and should be taken as seriously as such. Like Everman says, you definitely need a contract.

 

[SampSon]

Yes, how do you think businesses do this on a daily basis?

 

[Ika]

Is Selena hot?

 

[RKS]

If it is just a single project it is a waste to form a partnership. A joint venture is probably what you are doing and as mentioned a contract should suffice.