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.
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.
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.
Many partnership disputes begin around expectations not being met. But were they ever defined in the first place?
Locking a partner out is a risky move. The locked-out partner has rights that if violated could entitle him to reinstatement and damages.
Your Partnership Agreement protects your interests. Ideally you would go to a qualified business attorney and have the proper legal document drafted. But if you are putting it off because of the expense, you can get the key items on paper to protect you and your business.