Episode Summary:

In this episode of *Partnered Up, Business Law, Deals and Dynamics*, Jeff Fink, a Partner at Coren Lichtenstein LLP, delves into the concept of fiduciary duties in business relationships. He shares real-life stories illustrating how breaches of fiduciary duty can have severe consequences for business partners. Jeff explains the importance of putting the other party's interests first and acting carefully to protect those interests, highlighting the duty of care and duty of loyalty in fiduciary relationships.

Key Timestamps:

00:00 – Introduction

01:30 – Stories of breaches of fiduciary duty

03:45 – Definition of fiduciary duty

05:20 – Differentiating duty of care and duty of loyalty

07:10 – Examples of breaches and consequences

09:45 – Variances in fiduciary duties across states

11:30 – Balancing flexibility and protection in agreements

13:15 – Maintaining fiduciary duties day to day

15:00 – Closing remarks

About the Show:

*Partnered Up, Business Law, Deals and Dynamics* is a podcast hosted by legal expert Jeff Fink, focusing on providing insights and guidance for business owners and partners on navigating complex legal issues in the corporate world. Join Jeff as he shares valuable expertise on business law, deals, and dynamics to help listeners make informed decisions in their professional endeavors.

Episode Summary: Exploring the essence of successful business partnerships, Jeff Fink, Partner at Coren Lichtenstein LLP, shares insights on how strategic collaborations can drive sustainable growth. From real-life examples to defining partnerships beyond ownership, Jeff delves into the critical factors that determine fruitful partnerships for small and mid-size businesses.

Key Timestamps: 00:00 – Introduction 01:30 – Story of a profitable joint venture 03:15 – The impact of strategic alliances on small businesses 04:45 – Defining partnerships for long-term success 06:20 – Knowing when to bring in a partner 08:10 – Factors influencing partnership failures 09:45 – Balancing legal structure and human dynamics in partnerships 11:20 – Steps to evaluate the right strategic partnership

About the Show: *Partnered Up* delves into the intricate world of business law, deals, and dynamics, offering practical insights and expert advice for entrepreneurs and business owners looking to navigate the complexities of partnerships.