How to Split a Business When There Is No Partnership Agreement
Two people show up in court fighting over the proceeds from the recent cash sale of their small business. Let’s call them Bob and Alice. There is no Partnership Agreement.
Get a Partnership Agreement NOW and Do Not Use a FREE Template
If you do not have a Partnership Agreement with Buy/Sell provisions, you are missing something that could protect you in the future. Don’t wait another day. Call me and get this done.
Partnership Mediation, Arbitration, Litigation, Negotiation and Best of All, Moderation
If your business partnership is breaking down, you have a number of possible ways to get it cleared up. In this post, I will offer you an explanation of each. Keep in mind that these aren’t just different styles to reach the same end. That said, as Stephen Covey would say, “Start with the End in Mind.”
What To Do When You Cannot Get Out of a Bad Business Partnership
If you have fallen out of like with your business partner, you have a lot of very careful negotiating ahead of you.
You Cannot Walk Away from a Sour Business Partnership
Before you do anything about your soured partnership, review your organization documents. Take a look at the Operating and Partnership Agreements to see if you have provisions for a voluntary exit of a partner.