Your Business Deserves To Thrive


The Complexities of Partnership Agreements

Partnership agreements are rarely as simple as people think they are. I spent a lot of time working on partnership agreements. What I find interesting is a lot of people think partnership agreements are simple. Give me a standard partnership agreement. We’re just doing a normal partnership agreement. These are the types of statements I might hear when somebody’s calling…

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Operational Control Versus Ownership Control

A lot of times when clients approach us and they’re structuring their business, they’re very concerned about 50-50, who owns 51% of the business, who owns 50% of the business, and who falls below 49% of the business? In very simple terms, these are somewhat important because generally if you don’t do any planning, the person who owns 51% of…

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When a Business Partnership Turns Out To Be Not What Was Expected (Part II)

Shortly after Hogan was brought in as a 1/3 owner of Turbine Asset Holdings, LLC (“TAH”), he began helping TAH with business opportunities using his contacts and expertise. [1] One of those business opportunity involved Pratt & Whitney (“Pratt”), which was expected to be a very significant inventory management opportunity worth at least $80MM of a net profit.  Hogan led…

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When a Business Partnership Turns Out To Be Not What Was Expected (Part I)

The R. Shawn McBride Law Firm, PLLC, frequently writes about a partnership, LLC, and multi-owner entities.  Mostly we have discussed cases or situations where business partners start out on good terms, have a spirit of teamwork and sincerely eager to start a partnership, only to see their relationship weaken over time due to disagreements over management, ownership, or other issues. …

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How to Protect Yourself When Things Fall Apart (Part IIII)

In Mizrahi v. Cohen, [1] a dentist and an optometrist formed a limited liability company for the purpose of the construction and operation of a mixed-use building in which they intended to set up their individual offices.  They did not have an LLC agreement at the time the LLC was formed but it was implemented a few months later when…

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How to Protect Yourself When Things Fall Apart: Business Partnership, Disagreement, and Dissolution (Part II)

In Cline v. Grelock, [1] the business partners were two-lifetime friends who started a towing business called American Asset Recovery, LLC (“AAR”) d/b/a Hound Dog Recovery.  To start the business, Grelock and Cline personally guaranteed a bank loan for AAR to buy a motor vehicle for the business.  The business did not succeed. It had significant debts and did not…

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