Business partnerships often start off positively but can, like marriages, decline over time. Especially when prospective partners don't take the time to get to know one another before starting a business or when they don't carefully define their obligations,...
Business Law
Why would you ever sue your business partner?
Usually, when you go into business with someone, the goal is to make your business thrive. The last thing you’d want to do is to have internal squabbles or to end up having to sue your business partner. Still, there are times when suing your business partner may be...
Hold a vendor accountable for a major breach of contract
Whether you run a taco restaurant or a manufacturing facility, you sign vendor contracts because you need predictability in your supply chain. You need to know the cost of components and materials. You also need to know that you can rely on getting those items as...
Selling your business? Get it appraised and prepare to transition
As you’ve gotten older and closer to retirement, you decided that you don’t want to continue on with your business. Since that’s the case, one thing you may want to consider is selling your business to someone else. There are different people who might be interested...
2 common reasons business partners wind up fighting in court
Becoming business partners with someone means putting a lot of trust in that person. Depending on the language in your partnership agreement and the way that you form your company, you could take on some liability for their decisions or make major investments that...
4 things you should know when buying a business
Building a business from scratch is a process that takes months, if not years. It also requires a much different skill-set than the successful management of an existing company. If you find yourself wanting to run a business without needing to build it from the ground...