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Workers'
Compensation
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PennStuart
Launches
New E-Newsletter
 Communication
between attorney and client is paramount to success. It is especially
vital when your goal is to avoid potential problems through careful
planning.
Our newest communication tool is this e-newsletter. Each month, we will
include a brief article on a timely legal issue and tell you a little more
about our individual practice groups. We have 18 practice groups, so we
can't cover all of them in one newsletter.
If there is a particular topic you would like to read about, please contact
us and we will include it in a future issue. As always this e-newsletter
is an information tool and should not be taken as legal advice.
Partnership
Agreements
Most
people would never initiate a business relationship without a
partnership agreement, yet many omit one important aspect – the
buyout or buy-sell clause.
Just as many people die intestate, many business partners don’t
plan for the end of the partnership. Partnerships end for many
reasons, the death of a partner, a divorce, the development of
a disability are just a few.
If the partnership agreement does not spell out how it can be
severed or altered, the surviving partner(s) may end up with
a new partner who does not share the vision of where the business
is going, is not knowledgeable about the business, or is untrustworthy.
Failure to plan for a buyout can result in the failure of a business.
It is vital that when setting up a partnership agreement, you
plan for all contingencies, including the end of the partnership.
Without proper planning, everything you’ve worked for can
be lost. You owe it to yourself, your partners and you business
to plan carefully from the beginning. |
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