business partnerships

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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Q.:  What are my rights as the minority shareholder who is being laid off by majority shareholder?  I’m a guarantor on the company credit line? We are the only guarantors on the credit line. There are two other minority shareholders, one was laid off nine months ago but kept his shares, and the other is […]

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Post image for How to Get Out of a Business Partnership

You can probably guess the tell-tale signs of needing to leave your business partnership (they’re similar to the signs for leaving your college boyfriend or girlfriend): Everything they do is wrong. You’re stressed and unhappy all the time. You wake up in the middle of the night with a knot in your stomach.  In short, […]

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The article “Protect Your Business and Your Family” raised a valid point — that partnerships are not eternal.  But the point is not an obvious one. Many business owners I know and advise refer to their “business partner” as the person with whom they own a business.  The business may take the legal form of a […]

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Post image for Extra! Extra! Lex Appeal Provides Partnership Tips for February!

A gentle nudge for those of you who are not subscribers to my now-weekly ezine, Lex Appeal.  For the month of February, I’ll be providing weekly tips on business partnership issues including: Are you partnership material? Do you have your life partner’s buy-in for your business plans? The 4Ms of partnership agreement basics Signs that […]

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Entrepreneurs who want to raise capital from angel investors really need to consider the process from the angel’s point of view. Every audience you’re trying to sway needs to be able to see “what’s in it for them”.  I’ve heard people quip that the most popular radio station in the world is WIIFM–“What’s In It […]

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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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Post image for Basic Training:  Bums as Business Partners

Q: I have an S Corp that includes myself and my partner, 50/50 ownership. I put in all the capital and do 90 percent of the work. I cannot get my partner to leave the business. What do I do? A: Whether, and how, you can “kick the bum out” depends on whether you have a […]

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Business partnerships are easy to begin, tough to maintain. (Equally tough is finding a webcam freeze frame that doesn’t make me look downright goofy). In this video, I’m interviewed by Phil Simon, technology expert, management consultant, and author of the recently-released The Age of the Platform (his 4th book). We cover a range of business partnership issues including: What prompted me […]

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Yet another handy Q&A from Forbes Small Business, and this one featuring my colleague, Marian Banker.  🙂  What do you do when your company has expansion plans, but one of the partners refuses to co-sign a loan for the necessary funds? Other than a long, hard discussion with your partner about being aligned on goals, […]

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