What steps can I take to protect myself from liability in a business partnership in Pennsylvania?

As a lawyer, there are several steps that you can take to protect yourself from liability in a business partnership in Pennsylvania:

1. Draft a Partnership Agreement: A partnership agreement is a legal document that outlines the terms and conditions of the partnership, including the roles and responsibilities of each partner, the distribution of profits and losses, and the procedure for dissolving the partnership. It is a critical document that can protect you from liability by clearly defining your rights and obligations as a partner.
2. Obtain Adequate Insurance: As a partner, you should consider obtaining adequate insurance coverage to protect yourself from potential liabilities that may arise in the course of the partnership's operations. You should consult with an insurance professional to determine the types of insurance coverage that are appropriate for your business.
3. Follow all Legal Requirements: As a partner, you are expected to comply with all applicable legal requirements, including business registration, taxation, employment laws, and other regulatory requirements. Failure to comply with these requirements can result in legal liability.
4. Maintain Accurate Records: You should maintain accurate financial and operational records to ensure that your business is in compliance with all legal requirements. This includes keeping track of all business transactions, such as sales, expenses, and payroll.
5. Seek Professional Advice: If you have questions or concerns about your partnership agreement, insurance coverage, or legal requirements, you should seek professional advice from a qualified attorney or accountant. This can help protect you from potential legal liability and ensure that you are operating your business in compliance with all legal requirements.

In addition to these steps, it is important to note that there may be limitations or exceptions to the advice given. For example, specific legal requirements may vary by industry or jurisdiction, and certain agreements or insurance policies may have exclusions or limitations that must be carefully considered. Therefore, it is always advisable to consult with a qualified attorney or other professional before taking any action that may impact your legal liability.