08 Apr U.S. partner dispute a cautionary tale for entrepreneurs
A recent U.S. case involving a small startup that grew beyond all expectation and resulted in a legal dispute between the original business partners holds a number of lessons for Canadian entrepreneurs, Barrie civil litigator Scott Hawryliw tells AdvocateDaily.com.
“When a business starts up, partners are optimistic and enthusiastic and not thinking of the worst-case scenario,” says Hawryliw, founder of SRH Litigation. “Often, there’s either nothing in writing that sets out what each party contributes to and gets out of the business, or there’s just not enough detail. With that in mind, it’s critical that you have a clear and comprehensive agreement between the parties.” otherwise partner disputes will occur.