business partners

This just in from the annals of Business Partner Horror Stories. Imagine going into work one day and your partner doesn’t show up.  Calls to his home ring and ring with no answering machine picking up.  Calls to the cellphone get sent straight to voice mail.  No response to your emails.  This goes on 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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Summer getaway vacations are a lot like business partnerships. You need an outlook of adventure, a mindset for cooperation, and an attitude of mutual respect. You also need to be mindful of your budget. It’s a journey that you’re sharing together. Like vacations, business partnerships can spoil for many reasons. But the grounds often circle […]

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Years ago, my business partner and I started our firm together with the happiest and best of intentions: visions of profits, freedom from the tyranny of others’ corporate cultures, and fun in an often dour profession (law). We signed a partnership agreement. For a while, it worked. At least the freedom and fun part, which […]

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Many people have started a business partnership (or limited liability company) with at least one other person. According to the IRS, that’s at least 14 million people. And that doesn’t include those who have started small corporations with other owners – which could easily double that figure. But according to AssociatedContent.com, up to 70% of […]

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Summer getaway vacations are a lot like business partnerships. You need an outlook of adventure, a mindset for cooperation, and an attitude of mutual respect. You also need to be mindful of your budget. It’s a journey that you’re sharing together. Like vacations, business partnerships can spoil for many reasons. But the grounds often circle […]

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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 […]

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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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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