In this video, we take a look at the real-world scenario of a two founder team that split equity equally – a partnership setup most lawyers would almost universally advise you avoid.
If you’ve seen my other videos, you’ll know I think 50/50 partnerships can be fantastic, but are fundamentally based on trust and, like all business partnerships, require a rock-solid partnership agreement.
Check out this video for the real reason you want a partnership agreement:
https://youtu.be/s4hvjL9hrN8
In part one of this case study, I discuss the issues facing my clients and how it all could have been avoided so that you can learn from their mistakes.
As always, be sure to leave any questions in the comments or contact me at
https://cenkuslaw.com
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This is another video in my Business Partnership Mastery Series, where I will be diving into both the philosophy and legal nuts and bolts of mastering business partnerships. If you are a current or future business owner, you will definitely want to stay tuned for videos in this upcoming series, so make sure to subscribe!
Inspired by the content in my book, Partner-Proofing Your Partnership, I will touch and expand on the primary concepts I fleshed out in that short read which you can find here:
http://www.businessattorneyinaustin.com/brett-cenkus-partner-proofing-your-partnership-ebook
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For a deeper dive into and other legal issues vital to the success of your deals and your business, visit me at:
www.cenkuslaw.com
Just starting up? Check this out for my advice on startup success: www.thestartupshepherd.com.
You can also reach me at:
https://www.linkedin.com/in/brettcenkus
https://twitter.com/BCenkus
http://www.cenkuslaw.com
http://www.cenkus.com
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About me:
My 20+ years of experience in business finance, business law and entrepreneurship have led me to believe that numbers and logic are awesome tools, but understanding human nature and emotions is the first step to business success.
The Cenkus Law Firm provides services related to mergers & acquisitions, general business issues and startups, including founders’ agreements and fundraising. I also consult with entrepreneurs and have invested my own capital as an angel investor.
From 2010-2013 I served as Chief Legal Counsel of a publicly-trade international oilfield services company. From 2001 to 2006 me and a partner founded and built Paragon Residential Mortgage. Paragon was sold to Bridge Investments in 2006.
I hold a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania.
Now, I live in Austin, TX with my wife and two kids. I enjoy reading, running, classic movies, great food and wine and some great American football.
