Lisa Summerton’s Post

Is a Vibe Check and Complementary Skills Enough to Establish a Bond Between Co-Founders? 🤔 A solid bond requires mutual respect, aligned values, clear communication, and trust. Without these, even the most complementary skills can lead to friction. It's not just about feeling right in the moment; it's about navigating the highs and lows of business together. 𝐆𝐨𝐨𝐝 𝐂𝐨-𝐅𝐨𝐮𝐧𝐝𝐞𝐫 𝐁𝐨𝐧𝐝 𝐯𝐬. 𝐁𝐚𝐝 𝐂𝐨-𝐅𝐨𝐮𝐧𝐝𝐞𝐫 𝐁𝐨𝐧𝐝 ✅ 𝐆𝐨𝐨𝐝 𝐁𝐨𝐧𝐝: 1️⃣ Trust & Transparency 2️⃣ Aligned Vision 3️⃣ Constructive Conflict Resolution ❌ 𝐁𝐚𝐝 𝐁𝐨𝐧𝐝: 1️⃣ Mistrust & Secrecy 2️⃣ Conflicting Goals 3️⃣ Frequent Miscommunication To safeguard the partnership, it’s crucial to have a solid legal document like a co-founder’s agreement in place. Here are some essential clauses: 1) 𝐄𝐪𝐮𝐢𝐭𝐲 𝐒𝐩𝐥𝐢𝐭 📊 – Defines ownership percentages. 2) 𝐑𝐨𝐥𝐞𝐬 & 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐢𝐞𝐬 📋 – Outlines each founder’s duties. 3) 𝐈𝐏 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 📑 – Clarifies who owns the intellectual property. 4) 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧-𝐌𝐚𝐤𝐢𝐧𝐠 ⚖️ – Specifies how key decisions will be made. 5) 𝐄𝐱𝐢𝐭 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 🚪 – Details conditions for leaving or dissolving the partnership. Don’t leave your co-founder relationship to chance—get professional help to draft your agreement. Dastawezz: 𝐋𝐞𝐠𝐚𝐥 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐌𝐚𝐝𝐞 𝐄𝐚𝐬𝐲. 📝 #legal #legalservices #legaldocuments #legalconsultation

Want to level up your business strategy? Here are 5 questions for your consideration: 1. Are you planning to enter foreign markets or expand into the U.S.? 2. Do you anticipate significant changes in your industry or regulatory environment? 3. Have you encountered complex legal challenges or disputes that require specialized expertise? 4. Do you have in-house or legal and business expertise to handle current and future challenges? 5. Do you aspire to build a strong legal foundation and protect your brand's reputation? If you answered "yes" to any of these, it's time to bring in the expertise of a trusted business and legal consulting team. Don't navigate complexities alone - let us help you confidently reach your goals! #POTENTE #LegalConsultants #Business #Partnerships #BusinessGrowth #Attorneys #NewClients 

Let’s pause on… when being a lawyer means more than having a law degree.   Anticipate Challenges Mitigate Risk Build Trust Expand Relationships Revenue Growth   Stop firefighting legal issues. By understanding your client’s business and anticipating potential hurdles, attorneys can preemptively mitigate risks and build confidence. In business development, expertise is just the table stakes. True success lies in fostering long-term, secure partnerships through strategic collaboration.   Every business is a world of its own, with distinct goals and challenges. Don’t wait for problems to arise; seek to understand what drives each client. This proactive approach is a mindset that demonstrates a commitment to overall client success, not just their legal needs.   Clients value attorneys who become invested advisors. Understanding the industry landscape goes beyond just providing legal expertise. It demonstrates a commitment to success, fostering trust that fuels long-term partnerships.   This image is of amber: tree resin, color, my favourite scent, and an acronym for a critical business development component.   Photo credit: Natalia Soto in Unsplash   #ClientRelationships #BusinessDevelopment 

When you engage in a business partnership, it is often easy to get swept up in the excitement and overlook the possibility of issues in the future. Even if you have the perfect partnership, small difficulties over time can lead to a necessary break -- but how do you ensure the safety of your business and assets? First, before you enter into a partnership, it is imperative that you and your partner(s) create a contract that guides your expectations, responsibilities, and actions. A lawyer can help you not only draft the contract, but also review the contract in terms of your best interest -- even if you trust your partner with your life, a contract is top priority. Think about it this way -- having a legally binding contract is a tool in conflict resolution and an assurance that your best interests are being honored. Then, if the worst case scenario occurs and you are at odds with your business partner(s), you must review your contract to see how you can take action. An experienced attorney can help you review and decide on your next steps based on what is outlined in the contract. Do you have a contract with your business partner(s)? If not, make sure to reach out to an experienced attorney to learn more about your options. Read more at the link in the comments. #BusinessPartnershipAgreement #ContractualProtection #PartnershipPrecautions #RomanoLaw

Business Development within the Legal World 🫱🏽🫲🏼 The legal industry is evolving and business development is at the heart of this transformation. But what exactly is business development in this context? Essentially, it involves identifying and fostering relationships, exploring new markets and enhancing client satisfaction to drive firm growth 📈 Effective business development is crucial for several reasons, one being it helps legal firms stay competitive. With over 10,000 law firms in the UK competing for clients, standing out is more important than ever. By focusing on building connections and diversifying services, firms can gain a significant edge. It also contributes to sustainable growth by ensuring a steady pipeline of new and returning clients. ➡️jack@thorntonlegal.co.uk ➡️07538704113 ➡️www.thorntonlegal.co.uk #LegalIndustry #BusinessDevelopment #ClientManagement

Watch now 🧠 https://lnkd.in/gVnaznVv Emotional Intelligence in Negotiation This program covers: - How to cultivate emotional intelligence skills for effective legal practice - The role of emotional intelligence in enhancing negotiation strategies - Real-world examples demonstrating its importance across industries Watch now 🔗 https://lnkd.in/gVnaznVv #EmotionalIntelligence #NegotiationSkills #LegalStrategy #OnDemand #LegalEducation #CLE

🌟 Attention legal service providers! 🌟 Are you on the lookout for impactful collaborations to fuel innovation and expansion in the legal realm? With my proficiency in forging strategic partnerships, I'm equipped to pinpoint and nurture valuable alliances that will propel your firm to new heights. Let's link up and unlock a realm of fresh opportunities together! #LegalInnovation #PartneringForSuccess

In the highly competitive landscape of Australian legal services, differentiating yourself isn't just desirable, it's essential. In this arena, where trust and credibility hold paramount importance, Business Awards can be an immensely powerful tool to elevate your firm and attract new clients. Learn more here: ➡️ https://lnkd.in/gUfV5i5E

Partnerships unlock growth potential, but also introduce shared accountability. Explore the legal landscape of collaboration in business. #MitchLawFirm #BusinessPartnerships #LegalAdvice #Collaboration #BusinessLaw #Partnerships