Disputes

For more on deadbeat business partners, here’s another thought:  if you have been running your business as a general partnership, you are both “jointly and severally liable” for the debts of the partnership.  This means that a creditor could come after you for the full amount of the debt, or your partner.  They don’t have […]

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From the Department of “Was that form of exit strategy written into our partnership agreement?” comes this story from the Chicago Tribune of an Illinois business partnership gone wrong.  Apparently, the home rehab business — started by two friends — was experiencing financial difficulties.  It seems that one partner wanted to take out more money to […]

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“Heather” was at her desk, reviewing accounts receivable reports. She grimaced as she saw the unpaid invoices from HiSpeed Technologies, Inc. She had done great work for them, and they continually praised her efforts – but what started out as a rough cash flow patch for them was turning into one excuse after another. Just […]

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Negotiation is both an art . . . and a science. Whether it’s getting the kids to do their homework, choosing a film to see with a friend, or setting a price for your services, negotiating permeates every aspect of our lives. Whatever the size of the deal, a negotiation involves two sides, each needing […]

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Trying to collect on a delinquent debt is rarely a profitable experience – in any sense of the word. You can prevent time-consuming lawsuits by becoming savvier about choosing the right clients. Your productivity and success will depend on your ability to pre-screen for these problem people so that you don’t take them on in […]

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From The Times of India, comes this story of two realtors who murdered their business partner because he was cheating them.  You can’t make this stuff up.  It probably doesn’t need to be said, but I will anyway:  murder is not an appropriate or viable strategy for getting rid of your business partner. I can hear the […]

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Post image for New Court Decision: Pregnancy Discrimination Includes Infertility

For companies with employees, there’s a new rule in town (at least, in Chicago’s federal court): Under the Pregnancy Discrimination Act, women cannot be fired from their jobs for needing time off for infertility treatments. As reported in the Wall Street Journal online, the ruling involved “a secretary who was laid off after taking time […]

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Post image for ‘I Don’t Want to Get Lawyers Involved’

This week, I received a frantic call from “Rosie,” who had been referred by a colleague of mine. She plunked down a huge chunk of change (well into the five figures) to buy a day spa from the current owner. The seller told her he wanted to get out of the business because he wanted […]

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Post image for RipOff Report Rides Roughshod in Court

In a recent round of litigation concerning online content hosts, the online complaint site Ripoff Report won a defamation (and trademark) lawsuit filed in Florida by a Colorado company. According to the site, the Ripoff Report is a worldwide consumer reporting website and publication by consumers, for consumers, to file and document complaints about companies […]

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As seen in… Zsa Zsa Gabor once said, “[My ex-husband] taught me housekeeping. When I divorce, I keep the house.” But what if your house isn’t the issue—it’s your company …? Can your spouse keep a piece of it? It’s an issue that affects many small business owners. U.S. divorce rates hover around 40-50% (American […]

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