BONUS: Sample agreement language.
During my career, I’ve seen partners come to blows over this.
MORE: Deciding How to Allocate Partner Income | Principals Who Aren’t CPAs | Why Non-Compete and Non-Solicitation Covenants Matter | Handling Pay During the Disability of a Partner | Why Voting Isn’t Such a Big Deal | What’s in a (Firm) Name? | Protect Your Business with a Solid Partner Agreement
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One partner has a non-attest client who offers an opportunity to invest in the client’s business. A very common example is a client who is a real estate syndicator. This can often be quite lucrative for the partner.
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