The lawyer took the case to court. Because of the freeze on the company's assets, the business was almost impossible to operate. Gary said 12 employees quit because the money was not available to meet the payroll. It's hard to know at the start of a business partnership how personalities will change with time. Get a lawyer early in the game and get the documents straight.
Distribution has to be agreed upon by the partners in advance.
Protect yourself and your business. Organize today with tomorrow in mind. About Gladys Edmunds Entrepreneurial Tightrope appears Wednesdays. Click here for her previous columns. Gladys Edmunds was a single teenage mom in early 1960s Pittsburgh.