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Business Horror Stories: The Vampire Business Partner

Bad business partners suck. When not draining the life out of you, they are probably running your business into the ground.  In most horror tales, vampires start out as intriguing and intelligent characters. It is only after their victims have fallen under their spell does the bloodletting begin. The same could be said for bad […]

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Don’t be a General Partner! (Not Even by Accident)

A partnership is the most basic and perhaps the oldest type of business formation, and quite simply the easiest to enter into.  In fact, it is so easy to enter into, you may enter into without even knowing it.  Anyone you share profits with could legally be your partner, and your partner is legally obligated […]

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Bad Business Partners

I find myself writing about my clients and their bad business partners with the same sentiment and phrases that I would probably tell the story of my failed marriage with.   They all start out the same. On paper, they seemed so right.  Similar background, seemingly shared goals and vison for the future.  Seemingly similar intellect.  […]

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How to Form Good Partnerships

In this article, I define a partnership as “any company where there is more than one owner.” There are two important components in order to form good partnerships: Aligning with the right people Putting the right formalities around the partnership Seems simple, right? Word of warning: You could be in a “de facto partnership” simply […]

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Partnerships

The next topic in our continuing discussion about selecting an appropriate form of entity for your business is “partnerships.” When the first two people in history came together in some hopefully lucrative enterprise, they had a “partnership” whether they knew that or not. Today of course, there is a little more to it. Generally, a […]

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Tips for successfully joining a partnership

In a previous blog post, I talked about how Not Incorporating is Risky Business, which was directed at the sole proprietor and why they should consider incorporating their business. Suppose, however, you’re considering signing up as a partner into a pre-existing company, such as a partnership, limited liability corporation (or LLC), or S-Corporation? Is there […]

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