Business Partners

It’s such a good question.  (Although it’s usually asked this way:  How much equity should I give someone who wants to buy into my business? — which I think is the wrong question, for it assumes that you would want to do so). For a perspective on why you wouldn’t, check out this recent post […]

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From north of the border, here’s a piece from Canada’s Globe and Mail, the features that perspicacious legal mind and great blogging whiz . . . ME!    The author, Sarah Hampson, writes about how business partner relationships can be like romantic partner relationships . . . and, in light of the Conrad Black trial, […]

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I was interviewed earlier this week by a Canadian paper for comments on the latest cause celebre, the trial of former media magnate Canadian Conrad Black, for charges of racketeering, to mail fraud, and tax evasion. The trial opened in Chicago in mid-March.  The most interesting twist is that the government’s star witness is none […]

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Entrepreneurial women are the best. They see a need; they have a passion; they want to make the world a better place; and they have a nary a pause for thought before bringing their dream to fruition. But here’s a situation where a couple of deep breaths might be in order. “Jane” and “Amina” own […]

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When I first heard David Greer’s story, I started to salivate. Not at the acrimony that created the situation, but at the end result:  a two-year Mediteranean cruise with his family! But it could not have happened had David not been willing to follow the advice of his attorney and sign a shareholders’ agreement for […]

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I’m a big fan of attorney Ryan Roberts and his StartUp Lawyer blog, and just couldn’t resist the title of his recent post, “Saks Does Not Take Restricted Stock.” He touches on the need to uncover the tolerance level of your business partner’s spouse/significant other for the uncertain time of sacrifice ahead. It’s similar to […]

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A while back, I wrote an article entitled “Investing in the Right Investors,” where I talked about the importance of having the right fit.  Just as you would want to have with a business partner who’s actively involved in the company. My colleague, David Greer (who knows a thing or two about investors and investing) […]

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Got a call from a non-business-lawyer colleague about a potential referral.  It went something like this: “Do you handle business formation issues?” he asked. “Sure,” I replied, “Corporations, LLCs–what’s the issue?” “Do you do more than just the buy-sell stuff?” he asked, this time more hesitantly. “What do you mean?” I asked, starting to woder […]

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Q.: We are setting up key man insurance policies, and one of the spouses asked whether the business could pay for the family’s term life insurance policy as a benefit from the business.  Can a partnership use a partner’s family term life insurance policy as a business expense, with the intention of using the policy […]

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Family.  You can’t live with them; can’t live without them; most assuredly, want to pull your hair out working with them (sometimes). Family businesses are delicate creatures, and as James Lea (via Marian Banker’s blog) points out, trying to effect positive change takes honesty, courage, and willingness–characteristics often in short supply. I briefly worked with […]

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