Saying no to a partner is hard, but saying yes to a bad offer is worse. How do you know if a buyout deal is actually worth taking? In Ohio, you must look at the numbers and the rules before you make your choice. Here is how you can tell if an offer is right for you....
Your Partners In Pursuing Justice
Partnership Disputes
Who owns the assets when a partnership fails?
When a Cleveland business partnership breaks down, corporate holdings instantly become a battleground. Many owners mistakenly assume everything splits down the middle. Under Ohio law, property division depends entirely on structural agreements, funding sources and...
The decision-making clause in a business partnership agreement
Including the decision-making clause in a business partnership agreement is a best practice. It establishes a framework to be followed when making daily decisions to ensure business operations flow smoothly. Here is what to know about this clause: What’s included in...
When a partner breaches their fiduciary duty: What to know
Business partnerships require mutual trust. Of course, they also require partnership agreements that codify partners’ responsibilities and obligations to the business and those involved in it. Business partners have a fiduciary duty to one another and to the...
Does your partnership agreement need a “shotgun” clause?
When two business partners own equal shares of a company, the arrangement often begins with optimism. Equal ownership can feel fair, balanced and collaborative. Each partner has an equal voice, equal financial stake and equal authority over major decisions. But when...
Should you choose a business partner who is similar to you?
When starting a business partnership, one of your goals may be to avoid future partnership disputes. Maybe you have heard stories of partners getting involved in such serious litigation that there is no way for them to resolve it without simply selling the business...
3 common sources of partnership disputes
Business partners need to work together to develop a thriving organization. If they end up fighting with one another, the company may suffer. Most of the time, business partners can work through their disagreements. Occasionally, they may end up going to court....
3 key matters to address in partnership agreements
Partnerships are much like marriages. Two people with similar ambitions agree to share their skills and resources for the benefit of both parties. Like a marriage, a partnership requires the voluntary mutual cooperation of both parties. Misconduct could do real damage...
When business partners stop seeing eye to eye: what happens next?
Sometimes, partnerships begin with shared dreams and a perfect alignment of goals. The late nights, the handshake deals and the excitement of growth; it can all feel unstoppable in the beginning. But over time, differences can quietly surface. What once felt like...
Irreconcilable differences among business partners cause disputes
By combining resources, skills and networks, business partners can achieve more collectively than they could individually. However, while partnerships can bring significant advantages, they also come with challenges that can strain relationships. Disagreements are...