Business Partners.....
 

ARRRRRRRRRGGGGGGGGGHHHHHHHHHHHHHHHH.

Headaches.

Thanks god my entire business does not revolve around them and that I have a few sets in different projects with no overlap.

2 words.

Justifiable homicide.

:mad:

what happened?

i only work with women partners, that way we always know who the boss is.... ;)

Just a normal day's frustration.

:thumbsup

You're going to have to buy them out, the bastards :upsidedow

A couple mof my female partners have more balls than some of the male ones.

PART of the problem.

:helpme

always work alone, hire employees, control everything.

100% agree!!!

We'll help take ya mind off it Friday man, lubricate u'r woes with 'da vino :)

Anytime I've had a partnership we have set it up as a Subchapter S Corp. Then, I've set up a "Chinese Buyout" so that if somebody want out or to end the partnership, the agreement is in place. We make the buyout arrangements part of the bylaws of the corporation.

The way it works is that the terms of the buyout are agreed to in advance, not just the amounts; but, length of option period, percent down, interest rate, length of payout, etc.

Then, the way it works is as follows:

A and B are shareholder in JB, Inc.

B decides he can no longer work with A and wants to go it alone.

So, B tells A, "I will buy you out for $10K."

A now has 10 days to either:

Buy out B for $10K and own 100% of the business, or
Take the $10K and leave the business to B.

Using a Chinese Buyout lessens the chance of somebody lowballing you as you would have the first option to buy them out on the same terms.

Also, if you can't stand to be around them anymore, make an offer and somebody is going to leave. If you don't have the business, you got the cash...

It works.

hahaha :pimp :pimp

interesting

I should be clear.

The amount of the buyout is not agreed to in advance as nobody knows the future value of the corporation.

That will be much appreciated.

:thumbsup :thumbsup :thumbsup