A partnership agreement is the heart and soul of any business entity with multiple owners. This legal document articulates the rights and obligations of each party, ownership terms, dispute management as well as what happens when one party wants out. However, a...
Business Law Professionals
Business & Commercial Law
Signs your partner could be stealing from the business
Entering into a business partnership with another party can be a very exciting experience. If everything goes to plan, you can pool your resources, grow your portfolio, broaden your market reach and create wealth. But, like in any relationship, it is not uncommon for...
The role of your partnership agreement in resolving a dispute
When you go into business with one or more other individuals as partners, it is a good idea to draft a partnership agreement that will serve as the foundation of your professional relationship. This agreement can be a binding contract that keeps business running...
How can you handle divorce’s impact on a business?
It is already difficult enough to disentangle assets during a divorce. This is even more true when it comes to couples that own and run a business together. How do business owners handle the dissolution of their marriage? Buy-sell arrangements Forbes discusses ways to...
3 possible remedies for a business partner’s breach of contract
While a written contract is easier to enforce, an agreement you made with one or more business partners to start a company and share profits and losses is enforceable, even if it was oral in nature. This means that you can hold a partner who violates the agreement...
3 tips for selling ownership in a partnership
A business partnership is an agreement between you and at least one other person in which you start, own and run a business together. When you first start the business, it may be difficult to imagine a situation in which you would ever leave it. Nevertheless, there...
Why company culture matters in a business acquisition
Mergers and acquisitions are powerful moves for a company to make. Your business can leverage its success and strong revenue to make great leaps forward by expanding via the acquisition of another entity. While an acquisition certainly serves to bring many resources...
Is it possible to run a business with an ex?
Due to the legalities and difficulty behind dividing businesses, some people may want to consider running their business with their ex-spouse. Some people may find this an easy task. However, it may prove much harder than others expect. How can an ex-couple keep their...
3 keys to successfuly selling a business
Living in New Jersey has provided the right conditions to build your business. According to the New Jersey Department of State, the state ranks 11th for its number of small businesses. Whether retiring or ready for something new, the time may come to consider selling....
How can you prepare for commercial litigation?
Your business may get involved in a dispute after allegations of breach of contract, breach of fiduciary duty a shareholder dispute or another issue. When one of these issues arises, your business may end up involved in a commercial litigation case. According to the...