People going into business together expect their partnership to last for years. However, most of them, about 70% in total, eventually break up. Many situations contribute to business partnership failures. Below are five common reasons for this phenomenon. 1. Constant...
If you are in a business partnership, assets covered by the partnership contract cannot and should never be taken without the approval of all the partners. Unfortunately, it is not uncommon for a partner to fail to live up to their fiduciary obligation to the...
As an entrepreneur, you’re always on the lookout for your next business venture. There are numerous options for you to choose from, and something you have been considering recently is a franchise. Getting involved in a franchise saves you from having to start...
You started a business that has done very well. You and your business partner each invested $100,000 in it to get it off the ground, but it’s now a multi-million dollar business. You’re happy with the success, and you want to see just how far you can take things. Your...
Many businesses opt for vendors to reduce costs as well as provide their customers more of a variety of products to buy. Some vendors manufacture goods, while others purchase goods and sell them to others. There are even vendors that provide services like web hosting....
Binding arbitration clauses have become very common in a lot of contracts between businesses (or even between businesses and clients or customers). The goal, of course, is to keep issues out of court and, in the process, reach resolutions without having to go through...
Many successful businesses wouldn’t be where they are today without well-crafted contracts. A contract is a legally binding agreement that ensures cooperative parties uphold their end of a bargain. When parties fail to keep their end of a deal, then they may be...
Shareholders are an integral part of a business. They have voting rights that can help a company make beneficial decisions. It is crucial to understand how this business aspect works to avoid costly mistakes. After signing a deal with the right shareholders, you...
Most business partnerships run smoothly in the beginning. Partners are excited and enthusiastic about growing the company together. However, like any other relationship, the honeymoon phase eventually passes out, potentially leaving you to contend with the reality of...
If you run a retail outlet, a restaurant or a manufacturing business, you need reliable suppliers to remain in business. Unfortunately, a supplier might breach their deal with your business for a variety of reasons. They might stop making deliveries unannounced,...