Your Partnership Agreement protects your interests. Ideally you would go to a qualified business attorney and have the proper legal document drafted. But if you are putting it off because of the expense, you can get the key items on paper to protect you and your business.
There are times when you legally can and should lock your partner out of the business. But, those are rare circumstances. Locking your partner out, even if your partner is showing bad behavior, open you to potential liability.
I pay close attention to what is expressed during my private interviews before we start a mediation process. There are 3 signs a partnership will fail.
Anyone who starts a business has many hats to wear. Sales, manager, accountant? You will wear them all in a day. Be careful when you talk!
What happens with the business when people break up? Here’s the information you need to make big decisions and protect yourself.