business partnerships

Post image for Should You Do Business With Friends?

Adhere to the following 4 ground rules if you want to keep the friendship. Should you . . . or should you not . . . do business with friends? The short and obvious answer is: It depends. Whatever side of the deal you’re on–giver or receiver–here are some ground rules to consider: Only do business […]

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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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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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Q.:  Can a business partner be charged with embezzlement? My husband owns a business along with a partner whom he went to school with. The are equal partners. We have discovered this year he had a $10,000 cashiers check issued to himself from a business loan that acts as a checkings plus account. He also […]

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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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Q.:  I’ve invested money into our business and I feel like my partner is trying to cheat me out of my money. I have not said anything because I do not have proof. So I need help to figure out what I can do to guard my back. Our paper work is on the way, […]

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I’m not trying to give your business partnership the evil eye–I’m just saying that you’d be wise to think about what would happen if you (or your partner) needed to leave the business.  How would you handle the details?  What would you pay for the ownership interest? Who has the rights to the intellectual property […]

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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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“If it ain’t broke, don’t fix it,” is the attitude many entrepreneurs bring to their business partnerships.  If you’re turning a profit, who cares if it’s done by treating your partner badly, or by your sacrificing weekend after weekend to churn out the work? You should. As Alexander Stein points out in his Fortune Small […]

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From the Benefits-Outweigh-Burdens Department:  Rob Smorfitt, a serial entrepreneur, small business blogger, and Ph.D. candidate in South Africa, has looked into (and lived through) many business partnerships.  His research indicates that partnerships are a key factor in both entrepreneurial success and (perhaps even) personal stress reduction.  Read his post to find out more!

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