Business Tips by Chris Reich

If a partner causes a financial loss by intentionally harming the business, that violates a fiduciary responsibility which could justify legally removing a partner.

When one partner becomes totally beligerant and refuses to communicate, it is important to protect the other partner. These situations get pretty close to needing an attorney which can get very expensive.

We tend to wait until the situation gets very bad before we reach out for help. I understand. Let’s get started before the communication breaks down.

Here are 6 easy (and cheap!) steps to fix your business partnership problems. My process is uniques and it works.

I get a lot of calls about thieving partners. People are often disappointed when they hear the answer. If your partner takes $20 out of the bank account using the company’s ATM card and uses that money for lunch, it’s not stealing.

Every responsible article on this topic will start with the recommendation that you review your partnership agreement. You can still get out without an agreement.

Is It Time to Quit? Dissolving your partnership and or folding your LLC is a big move. Be certain that you and your partner are clear about this decision.