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The Fiduciary Duties of Partners in a Business Partnership

The Fiduciary Duties of Partners in a Business Partnership

by Chris Reich | Jan 10, 2021 | Family Business, General Discussion, Partnership Advice, Partnership Disputes, Partnership Problems, Top Post

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.

In Mediation Use Sense and Don’t Fight Over Cents

In Mediation Use Sense and Don’t Fight Over Cents

by Chris Reich | Oct 25, 2020 | Business Disputes, Family Business, Partnership Disputes, Partnership Problems, Problem with Business Partner

When business partnerships go bad, very often someone wants out. That starts one of two possible processes. The business enters Wind Down and begins the process of closing or the partners start discussing a Buyout.

When Politics and Business Partners Don’t Mix

When Politics and Business Partners Don’t Mix

by Chris Reich | Jul 4, 2020 | Family Business, Partnership Advice, Partnership Problems, Problem with Business Partner, Top Post

Unless you are in some sort of political business, you should keep politics out of your establishment completely. Of course, you have freedom of speech, but we are in very contentious times and displays of political or religious positions might be off-putting to to your customers.

Relatives Should Never Keep the Books in a Business Partnership

Relatives Should Never Keep the Books in a Business Partnership

by Chris Reich | Jun 9, 2020 | Business Disputes, Family Business, Partnership Advice, Partnership Disputes, Partnership Problems, Problem with Business Partner

Even when people get along well, having one partner’s relative handling the books just isn’t good policy. There is an inherent conflict of interest.

Tip for Talking with Your Business Partner

Tip for Talking with Your Business Partner

by Chris Reich | Apr 27, 2020 | Business Tip, Family Business, Partnership Disputes, Partnership Problems, Problem with Business Partner

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!

Business Partnership Problems with Someone You Were Dating

Business Partnership Problems with Someone You Were Dating

by Chris Reich | Apr 21, 2020 | Family Business, Partnership Advice, Partnership Problems, Problem with Business Partner, Top Post

What happens with the business when people break up? Here’s the information you need to make big decisions and protect yourself.

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Recent Posts

  • The Fiduciary Duties of Partners in a Business Partnership
  • You Can Backdate Agreements in Business Legally
  • Discuss, Agree, and Document How Partners Will Be Paid
  • In Mediation Use Sense and Don’t Fight Over Cents
  • Funny Friday: Video Conferencing
  • Do Not Stop Working if You Want to Leave the Partnership
  • How to Draft Resolutions to Strengthen Your Partnership
  • When Politics and Business Partners Don’t Mix
  • Relatives Should Never Keep the Books in a Business Partnership
  • About Documenting Partnership Expectations

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