When Only the Lawyers Get Rich

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq., owner of Ask The Business Lawyer, is an award-winning business attorney, speaker, and Entrepreneur Magazine online contributor. She saves consulting and professional services companies time, money, and aggravation by serving as their outsourced legal counsel.

Posted on May 28, 2018 in Business Partners, Disputes

From the Department of Cautionary Tales comes this instructive story from Richard Fox on the Kauffman (sadly, no relation — not even spelled the same way) Foundation’s Entrepreneurship site.

It’s the story of a partnership turned very ugly.  Betrayed by the partner who tried to sell out from under him on the day of his father’s funeral, enduring eight years of litigation (how did they afford it when the company was only making $5 million per year?), legislation slithering through the halls of local government . . . it reads like a Scott Turow novel.

Yes, there is a happy ending (hooray!), and Fox points out the valuable lessons he learned as a result of enduring this near-decade-long nightmare.

Thanks to Rush Nigut (again) for pointing me to the story.

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