Don’t Let Poor Partnerships Drag You Down
By: Kurt Olender, an EO New Jersey member, and is the founding partner of Olender-Feldman LLP
So, you and your partners just started a business. The future looks bright, everyone expects the company to grow quickly and you’re even fantasizing about your successful exit strategy … sound familiar? While some business partnerships end on a positive note, others often don’t. I know from experience. For 20 years, I have been representing owners of closely held businesses, and I also own several businesses with partners. In my time, I have seen some poor partnerships and watched as they negatively impacted healthy businesses. Here are a few examples of partnerships gone bad, as well as some tips that could help you avoid a similar fate: