Partnerships can be a major factor in success of growing companies, providing leads, sales, capital and/or other critical benefits. However, ventures should be careful not to place too much emphasis on any one partner in their business plan. Partnership agreements, like other legal agreements, can be breached, and if venture positions any one partner as critical to its success, this will become a risk factor to investors.

Overall, partners can provide a great boost to growing ventures. Business plans should not only discuss who partners are, but detail terms of partnerships and how they will benefit company. Finally, business plan must not place too much emphasis on any one partner in order to convince investors that business is capable of success even without it.

Several types of power-driven equipment are also generally prohibited for workers under 18. Examples are saws and other machines used on wood or metal; meat processing or packing equipment, including slicing machines; paper-product machines, including balers and compactors; bakery machines such as mixers; and most hoisting equipment.

With a few exceptions, youths under 16 may not work in communications, public utilities, construction, warehousing or transportation. They also are not permitted to operate most types of power-driven equipment. Under revised regulations, baking and cooking over an open flame are prohibited; deep-frying and cleaning cooking equipment are only allowed under specific conditions.

Know rules If your company employs teens, make sure you are familiar with applicable labor laws. G.Neil can help with our handy reference guide, “Wage & Hour Law Understood.” It contains an updated section on new child labor regulations, as well as information and practical advice regarding a host of other wage and hour issues — all in clear, easy-to-understand language.

*With some of these hazardous activities and equipment, limited exemptions may be allowed for apprentices and student-learners who are at least 16 and enrolled in approved programs.

May 2005