Disputes between business partners are not uncommon. Fortunately, many partners manage to resolve them. However, it’s better to prevent conflicts. Here are few things that can help. Have a written partnership agreement A partnership agreement doesn't have to be in...
Many businesses throughout Kentucky and across the country have fallen on challenging times for a perfect storm of reasons including: The COVID-19 pandemic Interruptions in supply chains Inflation Labor shortages Street violence and property destruction Burnout and...
Business partnerships often start out happily enough. Two or more like-minded people with similar backgrounds and experience decide to build a company. Some contribute money while others contribute expertise and hard work. As things develop, they hire employees and...
Starting a business with a like-minded entrepreneur offers many advantages to combine similar skills and share the costs as well as the risks with someone equally committed to success. However, some of the positives can turn to negatives without a clear and documented...
In a lot of ways, a business partnership is similar to a marriage. You incur some financial and legal vulnerability for the actions and decisions of your partner. You need to ensure you are both in agreement on major issues to prevent disputes down the road. Far too...
Forming a business as a partnership is one of the simplest ways to get a business off the ground, but this simplicity can lead to complications later on if partners do not take the time necessary to form the enterprise properly. One of the most common complications...
