Cleburne Legal Blog

When a customer comes into a business and steals an item from the shelves, the business suffers a loss. A prudent business owner will take steps to prevent such theft and even to pursue restitution from someone who commits the offense. However, in some Texas businesses, there is a type of theft that may have an even more devastating effect on the business.

An ex-employee who steals clients and other employees can quickly send your business into a tailspin. You may find your production grinding to a halt while you try to fill vacancies on your staff, and your profits may plummet as your customers jump ship. Like the prudent store owner, there are steps you can take to prevent this type of theft and options for seeking justice.

Owning a business means understanding that you will not always be around to run the company. The time may come when you choose to retire, or you may suffer from a disabling event in the future or pass away, any of which will make it impossible for you to continue owning and operating the company.

Because such possibilities exist, having a buy-sell agreement in place could greatly benefit your business. This document would allow you to have arrangements in place for the continuation of the business in the event of your retirement, disability, passing or other event that prevents you from moving forward with the company.

Though you may have been the one with the great idea for a service or product, you likely understood from the beginning that your business venture could not move forward without the help of others. Even if you had the ability to carry on for a certain amount of time without seeking assistance from outside your inner circle, your success may mean you need to work with vendors, suppliers or manufacturers.

While you may feel a bit intimidated by working with outside companies, you may want to recognize this moment as the milestone that it is. This needed action likely means that your business has grown to a point that you cannot fulfill the necessary operational needs on your own, and that is a point about which to feel proud. Of course, you may still feel apprehensive about working with the right suppliers.

Over the years, your company has grown and had its ups and downs. When your business first started out, you entered into a partnership because you and your partner felt that path was right for the goals and ambitions of the business. However, you may have come to the point, as many partners do, where you feel that the business relationship no longer works.

After much discussion, you and your partner may choose to dissolve the partnership. Of course, this type of relationship is not one from which you can simply walk away. Indeed, you must take the proper legal steps to ensure that the dissolution takes place in a manner that protects the soon-to-be former partners and the company.