Partners Across the PondBy Nina Kaufman, Esq.
Partnerships can be tough under the best of circumstances. Communication gets garbled even when you’re sitting right next to your business partner. But can you imagine the challenges in having a business partner in another city, state, or country? I cam across a post that inspired me to think about it: one business owner is in Canada, another, across the “pond” (as the English like to refer to the Atlantic Ocean) in France. The posts asks a handful of questions about the legal and financial aspects of the transaction. Important questions, I agree, especially the legal ones.
Still, I’m even more curious about how they might structure their business operations. How will they ensure that the other is doing his/her job? Are there major cultural differences between the two, such as approach to deadlines, the need for meetings (even if by telephone), and accountability to the company? Are their work styles and their lifestyles compatible?
I’d welcome hearing from business partners who have had that experience and how they made it work (or didn’t).
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