Business Partnership Advisor

Together, we can fix your business and partnership problems

Chris Reich, Business Luminary

Do You Need a Lawyer or a Mediator for Your Partnership Problem?

Chris, maybe I should call a lawyer instead of a mediator. My problem is pretty serious. What do you think?

Lawyer or Mediator: What's the Difference?

Lawyers litigate. Your lawyer can only represent you. That means your partner will need a lawyer if you get a lawyer. Things get expensive fast when you have two people charging $400/hour. Taking your action into court will cost YOU around $50,000 at a minimum. (125 Hours. That's only 2 1/2 weeks!)

Mediators sit down with all the parties and try to find common ground. Mediators charge around $400/hr. and typically have minimums of 6-8 hours per day or a total minimum case cost of $10,000. (Note: I charge considerably less and have no minimums.)

It sounds like mediation is the way to go, right? Maybe not.

What's Your Desired Outcome from your Partnership Dispute?

This is the most important factor to decide whether you need a lawyer or a mediator.

What does fixing your dispute involve? If you want your partner removed from the business because she violated her fiduciary responsibility and harmed the firm, you'll need a lawyer. Any time you 'require' action against your business partner, you'll probably need a lawyer unless your partner agrees to the punishment. It's possible. I've seen things get so bad that a partner will walk away from a business, but the departing partner is rarely the offender.

Lawyer or Mediator for your Partnership problem will depend on the desired resolution.

Chris Reich can help you with professional mediation.

Other Situations Where You'll Need a Lawyer

Your partner may be embezzling from the company. That can be a criminal act and you may need a lawyer to help you get enough attention that the local jurisdiction will prosecute. (Don't hold your breath) You'll probably have to sue for damages. A lawyer is needed.

If your partner is filing false tax documents, you will want a lawyer to protect you when the walls cave in. Any time a partner is willfully breaking the law, you had better speak with a qualified business attorney.

What if You Want Out of a Business Partnership?

A good mediator can negotiate a buyout. I also advise clients on the terms of a buyout if the other party is merely belligerent. I can mediate the buyout on behalf of the business or I can work as your representative or adviser to obtain a fair buyout.

If your Partnership Agreeement sets terms for a voluntary exit from the partnership but your partner refuses to honor the agreement, you'll need a lawyer to enforce that.

Sometimes I Work with the Client's Lawyer

There are cases where I work with the lawyers involved as an intermediary, a go-between, to facilitate reaching an agreement without going to court.

Get Advice First

I have two goals with every new client. #1, provide help. #2, be prudent with my client's money. If you call me about your partnership problem and I think you should call a lawyer, I'll tell you. That's why I always give a free consultation to every new potential client. I can determine if you would be better served by calling an attorney. I don't mind at all.

Also, there are times when I recommend that we first take a stab at trying to fix things before calling an attorney. Just don't wait to act. Bad business partnerships get worse with time. Don't wait to call.

Best wishes for your success,

Chris Reich, Business Mediator

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"If you have a business partnership that is going sour, get qualified advice. These things get worse with time, not better."

Do you like FREE services? Contact me now for a 100% confidential and 100% FREE consultation.

Prefer a direct approach?

Email: Chris@TeachU.com

Phone: (530) 467-5690

How a Mediator Can Help Your Family Business

As Moderator to many family businesses, I have helped with succession planning, compensation planning, and resolving of key questions around the operation of the enterprise. It can be difficult for an adult offspring to talk with Dad about a raise.

What Makes a Contract Legal and Binding?

As you see, a contract can be legal yet not binding. And, the most important take away is that a promise, even if written up and signed, is not binding. If an agreement is not binding, it isn’t enforceable. I assume you want your agreements between you and your partner(s) to be legal, binding, and enforceable. Let’s look at the pieces that must be included to make a valid, binding contract.

The Best Tool for Successful Negotiation

Before I give you the secret to easier and successful negotiation, let me explain a few things that don’t work. In fact, these will work against you. From years of watching people negotiate buying or selling, trying to change processes, or reaching general agreement, I have seen what works and what doesn’t when partners are negotiating with each other.

Chris Reich, Business Partnership Mediator can help you fix the communication issues with your partner.

Problems in the Partnership? Fix the Communication

I’ve found a common problem with communication when I’m conducting mediation meetings. People always think they know what the other party is thinking. They’ll say things like, “I know Bill won’t like this, but I think…” Opening your thoughts with that sort of lead in is going to put ‘Bill’ on edge before you even make your point. Never start by negatively setting the stage. So then, how should you start a conversation about a hard subject? In this post I’ll give you the 7 steps to conduct less tense and more fruitful meetings with your business partner.