Starting a business with a friend? We’re in the same boat! I’m putting in 40% and my partner has 50%. Just wondering, if things go south, what’s my legal liability? And if we have a trademark dispute, who owns the brand name?

Your legal liability is limited to your 40% share in the business, unless you’ve personally guaranteed any debts. Trademark ownership depends on who registered the trademark, but if both contributed to developing it, you could have joint ownership rights. It’s advisable to consult a lawyer to formalize your agreement and clarify ownership rights.