Bringing on a New Partner to your Business
Bringing on a new partner to your business can bring you business to an entirely new level, but it is frought with uncertainties and risk.
- What if there is a disagreement on strategy? Who has power to direct the business?
- What is the new (or existing) owners do not contribute adequately to the business?
- What if the new (or existing) owners want to remove cash from the business?
- Is there a buyout provision and does it apply equally to all owners?
Even though you enter a new relationship with all the best of intentions, you need to prepare for unforeseen circumstances while all parties can view these circumstances objectively.
Lynn Olney can guide you and your business through these issues and create an agreement that can give your business all the benefits of the new alliance without all the potential risks and costs.