In the fast-paced and competitive business world, partnerships drive success and growth. However, not all partnerships are meant to last forever. There are instances when it becomes necessary to sever ties and end a business partnership. Partnerships can be rewarding...
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How to avoid issues during a merger and acquisition
Mergers and acquisitions are complex transactions involving integrating two or more businesses. While they can lead to significant benefits, such as increased market share, cost savings and access to new technologies, they also come with challenges. To avoid issues...
What happens when a business partner refuses a buyout?
When a partner wants out of a business partnership, the remaining partners may have to buy them out to continue operations. But what if the outgoing partner refuses the buyout offer? It can be a tricky situation that could affect the future or continuity of the...
When is specific performance an appropriate remedy?
When you enter into a contract with another party, you do so with the expectation that everyone will fulfill their obligations under the terms of the agreement. However, it does not always turn out this way. The other party may fail to perform their part resulting in...
A non-compete agreement can help protect your business
As a business owner, you’ve put in countless hours and resources to build your company from the ground up. You’ve worked hard to establish a successful business - from hiring the right employees to developing a strong customer base. However, with success comes...
Understanding actual and anticipatory contract breaches
Most businesses are founded on the grounds of a contract. A contract is a legally binding agreement between parties, which ensures everyone meets their obligations for the benefit of everyone. However, contracts can be breached and this can greatly affect business...
What can you do about minority shareholder oppression in Ohio?
Owning less than a majority share of a business can put you at risk of minority shareholder oppression. It occurs when those who own greater shares violate the rights of those who own less than half of a company’s total shares. Oppression of minority shareholders is a...
4 traits of a good business partner
You may be inclined to seek a business partner when starting a business. Someone who can take a considerable amount of weight of running a business off your shoulder and establish strong connections. Many successful companies wouldn't be where they are today without...
The difference between a minor and material contract breach
You had a deal with a party that promised you goods or services. You and the other party to ensure everything would be done promptly. However, there were difficulties along the way and now you believe you’re dealing with a contract breach. Most contracts detail...
How do I deal with a business partner who is stealing?
Entrepreneurs get into business partnerships for a variety of reasons. Done right, a business partnership can help you leverage each party’s strengths and grow your bottom line. While business partnerships are governed by the partnership agreement, they are largely...