business partners

Post image for The Partner Principle: Interview with Robert Tuchman

I was intrigued with what Robert Tuchman had to say about his experience with business partners–check out Chapter 5 (“The Partner Principle”) of Young Guns: The Fearless Entrepreneur’s Guide to Chasing Your Dreams and Breaking Out on Your Own. Especially as his is a success story. How rare is that? So I invited him back for a second […]

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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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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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I’ve seen this joke in many guises.  There’s the information technology specialist and the businessman; the politician and the scientist.  Here’s one for lawyer and client (and, yeah, they were all written as “he”). Enjoy! “Business Partners” A man is flying in a hot air balloon and realizes he is lost. He reduces height and spots […]

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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It surprises me how many business owners have knee-jerk reactions about choosing a business partner, instead of thinking long and hard about who would really be the right fit for them (then again, how many of us really do that in our personal lives . . . but that issue is beyond the scope of […]

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Post image for Basic Training: Zapped! Or, Is $60 Too Much for a Legal Consultation?

Q: What kinds of legal issues do I need to be aware of in my business? And, do all attorneys charge for consultations? I went to one attorney who wanted to charge me $60 for a consultation. A: Not sure where you’re located or what stage your business is in, so it’s hard to tell […]

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I’m often asked, “what’s a fair division of ownership between busienss parnters” and “how much equity should I give an investor?” The short and obvious answer is: it depends. In his short post by the same name, David Ronick, founder of UpStart Advisors, illustrates how one entrepreneur thought through the process when raising capital, after […]

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When you’re starting your business, partnership agreements can seem a tedious exercise.  Not only do they take time and careful planning, but also partnership agreements can feel like a bucket of cold water–a real reality dose on your starry-eyed beginnings. Listen in to my BlogTalkRadio interview with Wendy Hanson of The Sassy Ladies, where we cover […]

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Post image for Basic Training: Is My Conniving Co-Owner Embezzling?

Q: I have a business partner (“John”). He is majority shareholder with a 55/45 split. We act primarily as a subcontractor for a small number of other companies. We do not have an operating agreement. We typically travel and complete projects together. Due to a scheduling conflict, I cannot go on our next project. Knowing this, […]

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