Everybody has a story about a partnership or business alliance that has fallen apart. Unfortunately, it is a somewhat common occurrence. Yet entering into alliances with other businesses or individuals can greatly expand a company's opportunities and markets. This SkillBite discusses how to build durable partner relationships through addressing critical issues, such as responsibilities, compensation structures and exit strategies. Discussion of these issues builds a common understanding, enhances alignment and teaches the parties how to deal with other issues that may come up, thus building durable partner relationships. The book covers the following topics: How to investigate a prospective partner prior to entering into a business alliance; What are the key business issues to address up front or as early as possible in the life of the partnership; and What are the critical legal issues to include in a partnership agreement to protect yourself in the event that the partnership doesn't succeed.
Judy Weintraub is an attorney with over 30 years legal experience. She runs Weintraub Legal Services, a law firm providing corporate legal services to businesses in the mid-Atlantic region, including partnership workshops and the development of operating agreements, buy-sell agreements and partnership agreements. Ms. Weintraub is also a mediator and arbitrator, serving on the rosters of the American Arbitration Association and the International Institute for Conflict Prevention and Resolution (CPR)