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“Exit arrangements” refer to the strategies and agreements that business owners and investors use to leave their current position in a company. These strategies can be crucial to an orderly transition of power and control when someone wants to retire, liquidate their...
Running a successful business involves juggling multiple critical matters at once. It can be hard to determine what issues need immediate attention and what you can put on the back burner for a while. You might be tempted to ignore a brewing dispute, but doing so is...
It used to be that “morals clauses” were for well-known people like actors, newscasters, athletes or others whose atrocious behavior in their personal life could potentially cost their employer millions of dollars in lost income. These days, the Internet can make...
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...