Disputes

“Do the ends justify the means?” is an age-old philosophical query. Melissa Thoma (a sister WomenEntrepreneur.com columnist, I might add), poses a similar question in her article, “Master the Art of Partner Negotiation.” Is the outcome of a negotiation as important as the process? “Couples get so caught up in claiming their space on the lifeboat […]

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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 […]

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Q.: I own 51 percent of an LLC. If I plan to split with my business partner what am I responsible to pay him?   Read on to find out . . . !

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Reproduced from my weekly ezine, LexAppeal: As I mentioned last week, business partnerships are delicate creatures.Like Japanese maple trees, you need to plant them in the right soil, protect them from harmful pests, and tend them carefully.Any one of these factors could cause the tree to wither and die. As the proverbial gardener of your […]

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Post image for Getting F!&@$%#!d with a Franchise

A sad tale of woe crossed my desk.  Seems that, a couple of months ago, an unsuspecting entrepreneur from Mexico bought into a U.S. franchise to import products to Mexico. She sent her 25 percent deposit (many thousands of dollars) to reserve the franchise for her city, but the franchisor cannot get the documents that she requires to […]

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This isn’t just business divorce, it’s “real” divorce.  The business divorce is the icing on the cake and people fight over it the way they do over children, favorite pets, or heirlooms. There are two main ways a family business can be owned.  (1) One spouse owns the business.  In that case, the non-owner spouse […]

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Today’s lesson: you can’t just “walk away” from a business partnership. Another submission from the Department of Horror Stories. “Marcia” started a corporation about 15 years ago. She and her former partner, “Dara,”personally guaranteed a line of credit for the company.About 10 years ago, and after a protracted lawsuit, Marcia left the corporation with an […]

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Here, from the Department of Nightmarish Scenarios Thrown at Me Out of the Blue from People who Want Free Legal Advice: “Marvin” and “Peter” took out a credit line when they were in business together.  Both personally guaranteed the credit line.  A few years later, Marvin and Peter absolutely had to part company.  And finally, […]

I heard a sad story this week — a Tale of Two Business Partners.  One made clothing designs; the other supplied the money.  One was optimistic about the new awards she had won and where the business was going; the other wasn’t.  One wanted to continue to move forward; the other wanted to wait and […]

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Lest you think that only novice business owners have problems with business partners, here’s a comforting note from Robert Kiyoskai in his Cash Flow blog.  Apparently, he made some choices that he thought were wise at the time, but ultimately, never panned out into a profitable business.  He gives some valuable hints as to the […]

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