The departure of a business partner often signals the end of an era. Whether it was a fruitful collaboration or a challenging journey, the reality is that every partnership has the potential to experience this transition. Sometimes, the separation is amicable. At...
Partnership Agreements And Disputes
What to do when your business partner violates your agreement
A partnership is a business entity where two or more people combine to form a business with the goal of making a profit. To protect their interests in their business, they should sign a written partnership agreement. You fulfill your obligations run your business in...
How can I avoid partnership disputes?
Entering into a business partnership is a significant opportunity for growth and expansion. Finding the right business partner could bring in resources, diverse expertise and values, helping the business thrive and reach new heights. However, even the most perfect...
6 red flags in a business partnership
As a sole owner, seeking out business partners is normal. It could contribute to your venture’s growth and expansion. However, most business partnerships could fail for varying reasons. Around 80% of partnerships fall apart, leading to damages that could be more...
What can you do if your vendor breaches the contract?
Small-business owners often work with suppliers or vendors to carry out projects and grow the company. But what if the supplier falls short of your expectations? Even a minor setback could disrupt daily operations and result in losses. Here are some steps you might...
Consider these tips when writing business partnership agreements
Many Texas companies choose partnerships for business formations. While partnerships offer many unique advantages, you must write your agreements correctly. Identify the business Partnership agreements must provide basic generalities about your business. Examples may...
What type of business partnership should you choose?
If you are setting up your business in Texas, it might be a good idea to consider establishing a partnership. A partnership is one of the most common business entities. In a partnership, two or more people share ownership of a single business. It’s a great way to grow...
Understanding a joint venture and a partnership
A joint venture and a partnership are each made when two or more parties want to join the same team. Their purposes vary from businesses wanting to attract more customers to wanting to increase profits. In addition to obvious similarities, there are numerous...
Do you need a trade partnership agreement?
Every new business project, partner, or venture requires an individual agreement. Contracts ensure that all parties have the same goals and understand their roles and responsibilities. An enforceable contract also protects the entities involved. A trading partner...
Three effective ways to resolve a partnership dispute in Texas
Partnerships can be a great way for business owners to pool their resources and create a successful business. However, when disputes arise between partners, they can lead to business interruption and even legal action. While it is often best to avoid partnership...
