Your Business Deserves To Thrive
I recently read a blog article suggesting that person selling their business SHOULD NOT involve a lawyer in the process. I replied to the original blog, and since then the original blog was updated. Here is the updated version: Planning Your Liquidity Event: Four Groups to Consult with Prior to Selling Your Business I found this advice shocking! As a lawyer…
Today’s workplace, consist of Millennial, Generation X, Baby Boomers and even some folks from older generations. Each of these groups brings unique sets of attitudes, values and work styles to an organization. While each person is unique, social scientists have identified some characteristics common among different groups born about the same time: Pre-Baby Boomers have a lot of knowledge that…
This author is not a big fan of fighting sports, but the news of the sale of the Ultimate Fighting Championship (“UFC”) in early July was hard to miss. Nay, it wasn’t the eye-popping price tag ($4 billion) attached to the sale of the company to a group led by talent agency WME-IMG, which the media says is the largest…
Here at The R. Shawn McBride Law Firm, PLLC, we write frequently about partnership, LLC, and multi-owner entities. In most, if not all, cases or situations we discuss, business partners start out on friendly terms, in a spirit of collaboration and genuine partnership, only to see their relationship deteriorate over time due to disagreements over management, ownership, or other matters. …
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 respective offices. The two did not have an LLC agreement at the time they formed the LLC; it was executed a few months later when they…
In Saunders v. Firtel, as in Cline v. Grelock, the two business partners were close friends.[1] Firtel was the sole owner of a pharmaceutical sales corporation called Adco and Saunders was a sales representative for a medical supply company. In 1986, the two decided to enter into a formal business relationship by allowing Saunders to obtain a 49% shareholder interest…
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 get the business rolling, Grelock and Cline personally guaranteed a bank loan for AAR to purchase a motor vehicle for the business. Unfortunately, the business was not very successful—it had substantial debts and…
Here at The R. Shawn McBride Law Firm, PLLC, we write and speak frequently on business partnership, especially the 4 Ds (death, disability, divorce, and disagreement), which can have a major impact on businesses. In our previous blog series on business divorce, for example, we talked about why business partners may disagree, describing some instances of conflict that business owners…
As you know, we write and speak frequently about various issues involving business partnership, including the four Ds (death, disability, divorce, and disagreement). Although many business owners starting a new venture would like to think that they are somehow immune from the four Ds, the odds are that most, if not all, businesses are bound to experience at least one…
What’s Love Got To Do with Business Partnerships and Business Laws. On June 21, 2016, Shawn will be featured in a podcast interview with Charlene Gilman, a producer of a weekly podcast titled “My Time Is Now” that airs every Tuesday with a worldwide audience covering United States, South Africa, and Australia. In this interview, Shawn talks about how business…