by Chris Reich | Aug 27, 2020 | Buyout Advice, Partnership Advice, Partnership Problems, Problem with Business Partner, Top Post
When the business partnership breaks down, the darker sides of the personalities come through. A dominant partner turns into a bully. A person who does not do well with conflict will withdraw. As the bully gets more aggressive, the pacifist withdraws further. Eventually, the bully gets so angry they are ready to lock the other partner out. The pacifist quits coming in. The next blowout is over money. The course is as logically predictable as what will happen to your car if you hit the highway with no oil in the engine. It will get louder and louder until the engine seizes.
by Chris Reich | Jul 5, 2020 | General Business, Partnership Advice, Partnership Disputes, Partnership Problems, Problem with Business Partner
I recommend that partners talk through a specific issue and then draft an agreement (called a resolution) that sets a policy. You can keep this in a binder to serve as amendments (or foundation) to your Partnership Agreement. In this post I’ll explain how to talk about things that bug you with your partner and how to draft a binding resolution to fix the problems.
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.
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.
by Chris Reich | Jun 1, 2020 | Partnership Advice, Partnership Disputes, Partnership Problems, Problem with Business Partner
Locking a partner out is a risky move. The locked-out partner has rights that if violated could entitle him to reinstatement and damages.
by Chris Reich | May 23, 2020 | Business Disputes, Partnership Advice, Partnership Disputes, Partnership Problems, Startup Advice
There are many things to cover in a solid Partnership Agreement. In this video, I’ll explain the items that need to be covered. You may have other items to include as well. Keep in mind that there are many ways to address each clause. My job is to offer you options and to help partners agree on how they want to address every line item.
