Business partners stink! Have you heard someone say that before? Maybe you feel that way. It is very hard to find the perfect business partner and the two business partners below certainly failed.
The L.A. band, Guns & Roses, was massive! Too bad Slash and Axl floundered.
Saverin & Zuckerberg fought it out in court and Saverin walked with $5 billion dollars. However, not sure that is a losing proposition.
On the bright side, successful business partners do exist and when it works, it’s a phenomenal relationship. However, partners beware! If you own rental income property, a start-up business, or have a more mature company you must be aware of the liability exposure from your partner. Many partners neglect to think about this and expose themselves to huge potential financial pain.
In the video below, we reveal the reality of being in business with someone else when it comes to liability. I sat down with my colleague, Brian Chou, Esq. for an eye-opening discussion on what it’s all about.