Securing a new contract with another company can require months of negotiations and careful preparation. Growing businesses may invest heavily in competing for a contract with an outside party. When the time comes to sign the final agreement, everything may fall...
Business partnerships are important working relationships. Partners commit to establishing and running a business together. They rely on one another for practical and financial support. Typically, the terms of a partnership agreement outline what compensation each...
Business partners combine their resources, connections and capabilities to run a company together. Most of the time, both partners are diligent about acting in their company's best interests and trying to make it as profitable as possible. Occasionally, one partner...
Partners often join forces to start a business because they can draw on each other’s strengths. These situations usually work well, but there may be times when they don’t see eye to eye. Partnership disputes can lead to significant damage to the business. It’s nearly...
A partnership is a legal business structure that allows one or more people to co-own a company. Often, the partners are friends before they form a partnership, but that isn’t always the case. Each partner invests in the business and splits any profits or losses....
Disputes between business partners are common so you should have conflict resolution strategies in place in case you need them. You can, however, do things to reduce the chance of conflict. Here is how you can do this: Distribute duties fairly One common reason...
Business partnerships will fail from time to time. Disputes arise and partners find themselves in a falling out. Sometimes they can resolve things and begin working together again. In other cases, the falling out is so significant that one of them has to leave the...
Business partnerships do not always go to plan. Issues can occur that strain the partnership and leave you wondering if you wish to continue. Reflecting on a few basic questions can help you decide your next move. Here are three: Is it a difference of opinions or a...
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...
