New business partnerships start with the best of intentions. The partners are excited by the new endeavor's potential and likely made serious commitments to help the company live up to its potential. Part of the process is creating a business plan, which includes a...
When should you use a specific performance clause?
Contracts are the lifeblood of any practical business model. Companies use them to hold others and themselves accountable for every transaction or deal. Many will feature different clauses to address potential issues specific to the agreement, and one of those is a...
Take these three steps to protect the family business
Many family businesses here in Texas go back several generations with lasting legacies. However, the current caretakers of the ranch, store, restaurant or business need to adapt and grow to keep the lights on and prepare to pass it along to the next generation....
Is it time to end a partnership?
Business partnerships are a lot like a marriage. Ideally, the partners work together for years, perhaps many years, aiming toward a common goal. As the business grows, the partnership proves to be prosperous, and each partner contributes equally to that success. Also...
Common shareholders can exercise rights
The details in a company charter will vary, but publicly traded companies will usually have different ownership levels. For instance, there are three classes of securities: bondholders, preferred stockholders and common stockholders. Each has its benefits, but common...
Buy-sell agreements often used for partnership changes
Even the steadiest of businesses go through partnership changes during normal times, often due to death, retirement, divorce, bankruptcy, or leaving to pursue other interests. But these are not normal times, which means that partnerships are shifting at a much higher...
Can a business or individual sue a partner for abandonment?
Business partnerships usually start with a sense of optimism. Unfortunately, not all partnerships are meant to be. When one partner leaves before the other is ready to shut it down, it can lead to more anger and frustration. This type of split can lead the abandoned...
How to minimize the risk of partnership disputes
What started out as a positive venture can quickly turn sour when partners fall out. Issues of ownership, control and the survival of the business can easily be threatened when partners disagree. Unfortunately, disagreements among business partners are relatively...
Shareholder disputes can turn ugly, cause damage to companies
When internal issues arise in a company, it is not unusual for predicaments to become difficult to handle. In some cases, shareholder disputes may lead to a need for serious repercussions, including letting high-ranking employees go. Of course, the ordeal may not end...
Business litigation results after breach of contract
When individuals share business ideas, it is common for them to enter into partnerships and create a company. Having multiple people on board can often help with decision making and other important factors of running a business. However, partners can also face...