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If a business partner no longer shares a common interest with the other partners or is a liability to the business, it is possible to remove them from the partnership. However, removing a partner may not be as easy, especially if their departure is involuntary. There...
You enjoy being your own boss, but it’s a lot of work to handle alone. Therefore, you might have considered bringing on a business partner or two. If you opt for a business partnership, you have to follow the rules outlined in the Tennessee Uniform Partnership Act. ...
A silent partner is typically someone who invests in a business and shares in the revenue or profits. If a company goes public, the silent partner may own shares of stock. Silent partners typically don’t play a role in the operational or decision-making aspects of the...
You’ve been running a successful company for some time now and you have ambitions of taking it to the next level. Many successful corporations throughout history have engaged in mergers. Generally, a merger consists of one company acquiring another so that it can pool...
As an entrepreneur, you want to protect your ideas. You’re determining whom you need to require to sign non-disclosure agreements (NDAs) to protect these and other information. Is that necessary (or even wise) at this early stage? If you’re just starting out, it’s...
Starting a business is a dream for many, and a business partnership can ease many of the struggles you might encounter as you begin. You may not be the strongest negotiator, that’s where your partner comes in. Your partner, on the other hand, may not like to deal with...
As a business owner, you may be aware that you want to offer contracts to some of your employees, perhaps to increase the odds that you will retain them or because you want to very carefully define their roles. But, if you run this business with a partner, it's not...
As most business owners in Murfreesboro know, running a company or establishment usually means partnering with other entities. The parties typically establish these relationships by signing a legal contract or agreement. Examples of potential contract parties include:...
Force majeure clauses are essential in construction contracts. Although construction professionals have back-up plans in case unexpected circumstances arise, you can’t plan for everything. Tennessee has certainly seen more than its fair share of weather-related...
If any or all of your company’s employment contracts are for fixed terms, you need to know what options you have for taking action against a person who decides to leave before their contract has expired. Ideally, this is something you should think about as you’re...