Business Partnership Advisor

Together, we can fix your business and partnership problems

Chris Reich, Business Luminary

Can Your Business Partner Take You Off The Bank Accounts?

You just found out that your partner took you off of the business bank account! Can he do that? It depends…

Your Business Partner Can Remove You From the Business Bank Account

That doesn’t seem right. If two people are equal partners on a business account how can you be removed? Why would the bank do that on his word without talking with you? Because there are two ways for you to be on that account. If it is a joint account, he can’t remove you without a court order of some kind. If you are an authorized user on the account, and your partner is the account holder representing the business, you can be removed.

Bank Lockout by Business Partner- Chris Reich

If you are not a joint account holder, you need to change that or open a new bank account for your partnership.

Chris Reich, Business Partnership Advice

Get a Joint Account

If you are in a business partnership, call your bank and find out if you have a joint account. If you are “on” the account but it’s not a joint account, change it. I can’t stress how important this is.

If you are a “signer” on the account, that means you are an authorized user. You can add, or take money. Your partner, however, has the ability to remove you from the account. Things may be great with your partnership today, but that could be very different tomorrow.

Are You Setting Up a New Partnership? Make Sure You Open a Joint Account.

 

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“Please find out if you are an authorized signer on your bank account or if it is a joint account. Trouble with your partnership? Contact me. It’s what I do. Chris Reich”

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Phone: (530) 467-5690

THe time it takes to mediate an agreement between business partners is not up to the mediator.

How Long Does Business Mediation Take?

The amount of time needed to work out an agreement is in the hands of the disputing partners. We could talk a few minutes about options and reach agreement. But that never happens.

When people make ultimatums, they hurt negotiations

Ultimatums Kill the Chance of Reaching Agreement Between Partners

  Business Partnership Advisor Together, we can fix your business and partnership problems   Chris Reich,...
We need to deal with the partner we have, not the imaginary one we wish we had.

The Partner You Have or the Partner You Wish You Had

We often form partnerships because of the way the relationship works. One person wants to be in charge and the other is fine with that. Then something comes up and the expectations cause tension. We have to deal with the partner we have, not the one we wish we had.

Part 2 of Things You Need to Know About Partnership Buyouts

Things to Know About Partnership Buyouts— Part 2

Here are more things you need to know if you are opening buyout talks with your business partner.