By far, one of the most common mistakes I see business partnerships make with their partnership agreements—after not having one—is taking a “Ron Popeil” approach. The worst thing you can do with your partnership agreement is “set it, and forget it.” Your partnership agreement is a living document. There are regular changes to the tax […]
Your Partnership Agreement Is a Living Document Read More »
Your business, your partners, and your individual requirements are unique. A personalized discussion and tailor-made partnership agreement are needed to give your partnership that best chance for success. A qualified business attorney who has the experience necessary to have a granular and structured conversation with you and your partners should draft your partnership agreement. Additionally,
How to Build a Better Partnership Agreement Read More »
When I work with partners on developing a partnership agreement for their business, I always make sure to hammer home one point: The partnership agreement is meant to help you avoid disputes and litigation at all costs. Why? Because you and your partners won’t always agree. There is an immense cost to litigation for a
How to Avoid Disputes & Litigation with a Partnership Agreement 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 »
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 »
You may have heard a business owner or two tell you that partnerships don’t work. They typically follow this ”advice” with a cautionary anecdote about what a former partner did or did not do and how it ruined a relationship. Whatever the specifics, I’ve found that these stories often share two fundamental features that lead
The Two Partnership Killers And How To Avoid Them Read More »
