Inherited Trucking company transition!!

Define broker.

I ask because I was talking to a new owner who has his company run by a business broker/law firm that was engaged by the previous owner (relative), not a freight broker, and he is doing so without a solid contract or the right tools in his toolbox. I spent about 3 hours with him on the phone, going over the mistakes his "relatives" made in the arrangement, and with help from my lawyer, he will get the right help.

The bottom line is if this is a freight broker handling the transportation end, even if they are using your authority, there are serious legal issue that are involved that can cost you your authority or at the least put the full liability on your back if there is an accident or cargo claims.

 

That's what I've been asking. Maybe they are just using "brokerage" in the wrong pretext and has nothing to do with a actual brokerage.

 

Personally, if it was me, and i was planning on keeping the company, id ether, relocate home base, or move to where home base is, just for starters, and be in on every decision, and be a fully involved with, what is now my company, and my name and rep to look after

 

Truck company ownership is NOT a passive income business. It might work for a while but eventually it will probably back fire.