Whenever I mention “partnerships” to business owners, I invariably hear groans and tales of partnerships gone bad. Many swear off partnerships period. But, while it is true that partnerships can become problematic, the upside can be significant. Partnerships have created some of today’s most valuable businesses (think Google / Alphabet). Plus, for many small businesses, […]
To Partner or Not to Partner? That is the Question. Read More »
When the economy slows down, companies have to get creative and start looking for new ways generate revenue. Some tactics simply allow a company to survive the downturn. Others, though, can actually put a business on track to thrive during a recession. One of these tried and true ways to locate untapped customers, is by
Leveraging Co-Branding to Thrive in a Recession Read More »
Despite the area of business or the type of legal entity, a multi-owner business definitely needs to have a partnership agreement in place. Each partner comes to the business venture with different expectations and goals, and through the process of preparing the partnership agreement these aspects will come to light. In a way, business partners
Do Husband and Wife Businesses Still Need Partnership Agreements? Read More »
The role of a business lawyer and the cost of legal services during the formation process and early stages of a new multi-owner business are perennial concerns for business partners. The owners often don’t see the benefits of paying a couple thousand dollars to draft a partnership agreement that doesn’t appear to bring them any
Can You Afford to NOT Get a Partnership Agreement? Read More »
You’ve heard me say it before: Running a business is hard work. There are a variety of quotidian tasks and issues that business owners will have to handle. Then there are those monumental problems that inevitably crop up from time to time. The best way for business owners to weather these kinds of storms is to
Building Business Relationships to Build Your Business Read More »
Much of our work revolves around providing end-to-end legal services to multi-owner businesses, from planning the initial structure of the business partnership and drafting the partnership agreement, through safeguarding the growth of the company, and finally to ensuring a profitable exit strategy. Yet, if I were asked which of those three stages I thought was
Never Set It and Forget It: Three Reasons You Need to Update Your Partnership Agreement Read More »
Strategic alliance. Joint venture. You’ve probably heard these terms quite frequently used in reference to large public companies like Apple, Coca-Cola, and American Airlines. In broad terms, both are a kind of partnership, a cooperation between companies in the pursuit of mutually-beneficial outcomes. This cooperation can manifest itself in various ways depending on the resources
Small Business Benefits of Strategic Alliances and Joint Ventures Read More »
Smart entrepreneurs know that when they start a business, they should form a business entity to protect their personal assets. The business model, industry, and goals of the founders will play a role in the choice of business entity. Corporations are a widely used business entity. So much so that the word “corporation” is often
What You Need to Know about Limited Liability Companies (LLCs) Read More »
Companies are always looking for ways to grow. A great way to do this and to ensure that they retain the best and brightest talent is to bring an employee on as a partner (or co-owner) in the business. For employees, it’s an opportunity to move up in the company and take on a more
From Employee to Partner: Three Options to Finance Your New Partner Buy In Read More »
Growing a successful business is difficult enough without having to worry whether a dispute among the partners will cause the business to fail. Partnerships (i.e. multi-owner businesses) have led to some of the most successful business ventures the world has ever seen. A partnership can create substantial wealth for the partners. But a broken partnership
10 Discussion Topics for New Business Partnerships Read More »