When you decided to start a business with someone else, you likely had an image of sharing workloads and working in harmony. Unfortunately, not all partnerships end up that way.
If you own a business in Texas, you likely rely on customers' timely payments to pay expenses and fund growth. When a customer not only fails to pay you but also files bankruptcy to prevent any sort of debt collection action, you may be torn between pursuing the debt into bankruptcy or giving up the claim altogether. If you are like many business owners, you may assume that pursuing the debt is not worth your time or money. But this might not be the case at all.
Entrepreneurs in Texas often need to work with others when getting new ventures off the ground. When considering a partnership, care should be taken to select the right person and to develop a positive and complete partnership agreement.