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Partnership gone bad, now I want out...what do I do?? - Page 2
 
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  1. Collapse Details
    leave that partener
    lets settle everything with your partener and then end the deails with him and find any new one.
    thats best for you


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    just tell your partner what you want actually how you want


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    Take time to discuss your company's Vision and Mission with your partners. Look for what energizes and motivates each of you about your business. Give it a purpose and define what the ideal business will look like. Put the joint Vision and Mission in writing and use it as the reference for everything else you do.


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    I've been in a similar situation (except there were 3 of us, 33.3% each, one silent partner and 2 active).

    Try to figure out what would be a fair valuation of the business as it is right now.

    What I would do is look at the issue from their perspective. Your partner probably wants you out of the business too, if you're not contributing. Maybe you both owe each other apologies for various things that have happened in the past, and it's a good idea to start with that, but staying unemotional and professional in your approach.

    I would attempt to positively collaborate together to find a solution that works for you both. For example, you could start with two options in mind: 1) buy out immediately, or 2) double down on your time and effort contributions and become an equal partner again trying to grow the business, with a potential buy out in 6/12/18 months. Offer both options and tell them you prefer the buy out immediately, but will work with whatever they prefer, and ask if they see other potential solutions. They might want to offer you a 20% ownership with a guaranteed dividend, for example.

    Make it a positive negotiation to find a mutually acceptable solution.


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    #15
    Join Date
    May 2017
    Location
    London, E14 8RJ United Kingdom
    Posts
    67
    I think you should go to the registrar office you you filed your company name to start as a partner there you have to call you partner and file of the dissolving of the company. Go to the banks and show them the paper that you filed during the start up and get yourself free from the mutual partnership in your business.


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    Do you have a shotgun assention? On the off chance that you do, offer your accomplice to get you out and in the event that he/she doesn't acknowledge you should purchase your accomplice out at that cost. On the off chance that you don't have a shotgun understanding and there is no correspondence your organization will go gut up inevitably on the off chance that you let it proceed. There might be a lawful method for authorizing a shotgun sort understanding yet I don't know precisely. The cash you benefit that backpedaled into the business is something you settled upon around then and doesn't matter to what happens now.


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