Attorney Stephanie Schaeffer advises against “lazy” financial practices among managing members of multiple companies. Since joining BLSW earlier this year, I have worked several matters regarding business member disputes. Some of these disputes could have easily been resolved if the parties had documented their financial action or if they had documented the “deal” they had regarding purchasing membership interest. Still …
It’s Yours!….Until We Break Up.
Attorney Alicia McConnell sorts the facts from assumption when it comes to business assets and break-ups. Dear Alicia, I started a business five years ago. It is a courier service. Two years ago, I needed to expand and hire another driver. My boyfriend at the time offered to a buy a car for my business to use. He purchased it, …
When Your Business Partner Thinks He Is Funny…. But He Is Not.
Attorney Joe Turner weighs in on this complicated but serious issue. Dear Joe, I am in a Partnership with four other Physicians. One of the Partners fancies himself a comedian. He likes to send out joke emails to the entire staff and will often add improper comments to serious ones. The problem, aside from being immature and distracting, is that often …
Employment Contracts: Why They Are Important and How You Can Use Them to Protect Your Business.
Hiring new employees is a difficult process. You have to be sure they are properly suited for their position and have a personality and temperament which will suit the work environment you have spent time and effort putting together. This coupled with negotiating benefits, salary, and slotting in time for training in an already busy schedule can seem overwhelming and …
Today Is a Good Day For a Business Succession Plan.
“Unexpected events can set you back or set you up. It’s all a matter of perspective.” Mary Anne Radmacher Let’s face it. In today’s Coronavirus environment, we are all weighing the “What If’s?” in our heads. All the things as a business owner you thought you could put off until tomorrow need to be addressed… today. Having a business succession …
The Family Business Succession Plan
Family owned business can be tough; especially since family is forever and a business lasts as long as the front doors can stay open. A family business can never be truly free of passion, so it is important to understand the importance of utilizing consultants from outside of the family in conjunction with a Trust and Estate planning team to …
What To Do If Your Partner is Stealing From the Company
If you are a co-owner of a company, and you believe (or know) that your partner is stealing from the company, you have rights and you have options — even if you’re not “in charge” or own a minority interest. Actionable Claims When a Partner Steals There are a number of possible issues that come arise when a partner steals …
5 Tips: How to Dissolve a Partnership as Painlessly as Possible
Closing (called dissolving) a business partnership can be compared to a divorce, from a cost and emotional impact to the partners. Neither party expects the relationship to degenerate into contention, but it happens more often than you might think. Whether business circumstances change, or some dispute arises between the partners, when the business partnership cannot endure, it’s time to legally …
Business Break-Ups – Important Tips to Prepare Before the Problem Arises
New business partners don’t typically think about anything going wrong down the road, however, business and personal disputes are often irreconcilable, and sometimes partners ultimately decide to break up the business. Ideally, businesses and business partners take the necessary steps to plan ahead for dissolution and alleviate much of the stress associated with typical business break-ups.
