Taking on partner(s) and limiting our liabilites

[Chris Mackey]

Hi BP members,

I will be taking on a partner in an upcoming deal and am looking for advice on how to structure the partnership where we are protected from each other.

Our concerns are that we both have things we are involved in outside of this upcoming deal. We both own property and businesses that we are not partners with each other in. What we want to avoid is having a legal issue with one of our individually owned ventures that a judge or lawyer could tie in to our jointly owned property.

Is this even possible and if so how would it be done?