Q: I do have a very important question for you. I am currently in an office where I am what you would call and IC/associate. I am responsible for getting my own patients. I keep everything up to $5000 and then we split 50/50 from $5000 to $10,000. After that, it is a 60/40 split my favor up to $15000 and then 70/30 above $20,000. All advertising and related expenses are paid by the other doc. He pays for business cards, etc. I literally have no expenses except for seminars. My question is this: We discussed me becoming a partner within the practice. How do I go about negotiating this? My partner (if you will) asked me today what I wanted? I really don't know except that I want to be a full partner. I plan on devoting my life to this practice, but I want to be more than an IC or associate. So that is my story. Any advice? A: Thanks for the e-mail. The issue is more complex than just wanting to be a partner. A partner shares in the expenses and headaches .. usually a partner buys into a business as a share holder of a 50% portion of it. This means the owner or person letting you in decides how much a 1/2 share of his business is and you pay that half. There are liabilities including malpractice issues and ethical issues that a partner has to share if and when they come up. Never even think about becoming a partner without spending the time and money to draw contracts with an attorney .. a handshake with someone you trust and like today can be a fatal business decision down the road including credit and more. The road of business is full of stories. I recommend you take the partner investment money and start your own clinic and then bring it your own IC. A corporate attorney .. possibly ask your state association if they can recommend an attorney that draws up contracts who ahs some understanding of the chiropractic world .. also .. if you wish .. you can contact Dr. Pete Fernandez who is an expert in these matters and for a fee .. possibly the same as an attorney can guide you. His number is 1-800-882- 4476 .. call them and see how much he charges. If you crunch the numbers and find you can be profitable on your own .. make the move. If after crunching the numbers and realizing that your office expenses are nil and you still are ahead you may wish to keep things as they are. But .. if you have the energy to make this practice grow through your efforts .. I would bite the financial bullet and go for it on your own. Have a Great Day Dr. M Q2: Doc- Thank you very much for your help. I respect your advice, and appreciate the time you take to answer emails. However, I am totally happy with our arrangement. We work well together, have good chemistry and I truly respect this man as a Chiropractor and human being. He has been there for me and my family many times. The only reason I tell you this is because I would like to come up with some way this can work for the both of us. I love being able to practice with another doc,but I just want to secure my future by "owning" a piece of the practice. I really don't like the idea of a solo practice. I guess I'm just really frustrated because I don't know what to do. I know I have it good now, but the future is sketchy. My biggest thing is "owning" a piece of this practice. So I can secure my future and the future for my 2 sons who will be Chiropractors as well----God willing!!!! Thanks again Doc, Bill any additional advice would be greatly appreciated. A2: Advice remains the same .. just discuss how you can purchase half of his business .. get a contract written by an attorney and there you have it. If you fear confronting this issue with a contract or getting outside advice than question why you question it .. this is the reason why you need a written legal document. Partnerships have many risks. Good and feely emotions go so far but even amongst family there is tension .. and then the paper comes in to play .. just like a family will. If you wish to remain an associate you walk away with no equity .. it is just like the typical worker with a salary .. it also has the financial risks such as downsizing that is often found with the typical employee worldwide. If you have the means go on your own and then look for your own associate or IC. Give this serious thought and if you feel your relationship is solid with the DC is strong have a heart to heart talk and let him guide you .. you'll soon see the sincerity. Partnership requires a 50% share buyout and all liabilities. Come to an agreement and go from there Have a Great Day Dr. M