Succession Planning in Family Business
Let’s look at how to plan for the next generation of your family to run your business. It’s never too early to make a succession plan and the earlier you start, the more options you have.
Terrible Tension In Family Business Partnership
In family businesses, when things break down, they really break down. The stress level is much higher than when a typical partnership has issues.
Business Mediator Can See Around Corners to Help You
Sometimes people will intentionally make an effort to trigger anger, frustration, or irrational behavior. As a Business Partnership Mediator, I see this behavior often and can help calm things down so we can have a rational discussion toward resolution. Seeing ahead is a super-power! I can see where the problems are and the best possible outcome.
Ultimatums Kill the Chance of Reaching Agreement Between Partners
Whenever a partner makes an ultimatum when I’m working to bring people together, the damage is almost always irreparable. Issuing an ultimatum is a disrespect to me as a mediator and the other partner or partners involved. Line-in-the-sand demands take away any room for negotiation.
The Fiduciary Duties of Partners in a Business Partnership
Partners in a business partnership, other than limited partners, have legal obligations to the partnership that are called the Fiduciary Partnership Duties. In this post, we’ll look at these duties and, hopefully, clarify what they mean.