Disputes

Post image for Have Your Collections Policy Ready

If you don’t want to get stiffed, know ahead of time how you plan to collect on overdue receivables. In any economy, there’s only one thing worse than not having work to do. That’s spending the time and effort to do the work . . . and still not getting paid. Frankly, I’d rather be sitting around […]

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Post image for Basic Training: Does Divorce Litigation Affect a Business Partnership?

It’s said that more than 40 percent of all marriages in this country end in divorce.  So there’s a not-insubstantial likelihood that your business could be affected by divorce . . . even if you’re not the one divorcing.  Here’s today’s query: Q:  My partner’s ex-wife is suing him for a large amount. Can it […]

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“Do the ends justify the means?” is an age-old philosophical query. Melissa Thoma (a sister WomenEntrepreneur.com columnist, I might add), poses a similar question in her article, “Master the Art of Partner Negotiation.” Is the outcome of a negotiation as important as the process? “Couples get so caught up in claiming their space on the lifeboat […]

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From the Department of Cautionary Tales comes this instructive story from Richard Fox on the Kauffman (sadly, no relation — not even spelled the same way) Foundation’s Entrepreneurship site. It’s the story of a partnership turned very ugly.  Betrayed by the partner who tried to sell out from under him on the day of his […]

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Q.: I own 51 percent of an LLC. If I plan to split with my business partner what am I responsible to pay him?   Read on to find out . . . !

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Reproduced from my weekly ezine, LexAppeal: As I mentioned last week, business partnerships are delicate creatures.Like Japanese maple trees, you need to plant them in the right soil, protect them from harmful pests, and tend them carefully.Any one of these factors could cause the tree to wither and die. As the proverbial gardener of your […]

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Post image for Getting F!&@$%#!d with a Franchise

A sad tale of woe crossed my desk.  Seems that, a couple of months ago, an unsuspecting entrepreneur from Mexico bought into a U.S. franchise to import products to Mexico. She sent her 25 percent deposit (many thousands of dollars) to reserve the franchise for her city, but the franchisor cannot get the documents that she requires to […]

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This isn’t just business divorce, it’s “real” divorce.  The business divorce is the icing on the cake and people fight over it the way they do over children, favorite pets, or heirlooms. There are two main ways a family business can be owned.  (1) One spouse owns the business.  In that case, the non-owner spouse […]

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Today’s lesson: you can’t just “walk away” from a business partnership. Another submission from the Department of Horror Stories. “Marcia” started a corporation about 15 years ago. She and her former partner, “Dara,”personally guaranteed a line of credit for the company.About 10 years ago, and after a protracted lawsuit, Marcia left the corporation with an […]

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Here, from the Department of Nightmarish Scenarios Thrown at Me Out of the Blue from People who Want Free Legal Advice: “Marvin” and “Peter” took out a credit line when they were in business together.  Both personally guaranteed the credit line.  A few years later, Marvin and Peter absolutely had to part company.  And finally, […]