Seven events in a partnership's life that are most likely to destroy it
Partnerships can sour at any time, for any reason. But certain events are common flash points, so don't let them surprise you. Among them:
- One of the partners divorces
- The company grows suddenly
- A partner brings a spouse or relative into the business
- Because of increased financial needs, a partner wants to take more money out of the business
- Partner A pinches Partner B's bottom, introducing a new complication to the relationship
- Partner B has a tragic motocross accident (or other medical misfortune)
- Then there's good old malfeasance, such as when Partner A begins doing business with customers on the side--"usurping corporate opportunities," lawyers call it--and thus violates his or her fiduciary obligation to Partner B.
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