Business partnerships can expand your company’s access to greater opportunities with a wider range of skills. However, they also come with some challenges. When the partnership agreement leaves room for interpretation, it puts both of you at risk of misunderstandings....
Business Law Professionals
Business & Commercial Law
There’s more than one type of contract breach
People talk about contract breaches without always realizing that you can define them in more than one way. First, it depends on whether the breach has actually occurred yet. Anticipatory breaches are where one party lets the other party know ahead of time that they...
My business partner is dishonest. How do I handle this?
Going into business with someone you can trust can be an exciting experience. After all, you share common goals and aspirations – growing your business and making profits. But what happens when you learn that your business partner is dishonest? What steps should you...
What is business divorce, and how can you manage the aftermath?
Partnerships play a vital role in driving growth and success. However, like any relationship, business partnerships can be faced with challenges and conflicts. When these disputes escalate to a point where the co-owners or shareholders can no longer work together,...
4 options to legally dissolve a partnership
Dissolving a partnership can be challenging. Reviewing your partnership contract and knowing what legal options are available is important. Whether due to irreconcilable differences, changing business goals or other reasons, taking the right steps is crucial when...
Can you revise your partnership agreement?
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...
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...
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