Partnership issue

[Damismiling]

Exactly I always tell my people, never go into a partnership business with anyone unless you have established a standard and concrete legal agreement, This agreement brings moderation to the activities of both partners in business.

It’s very simple. Gather the necessary documents revealing the terms and conditions of the partnership. If it’s a limited liability company then make accounts for all the money he’s spent lavishly and that’d a part of his share. Involve your lawyer and find a mutual ground for dissolution of business and if he’s adamant and doesn’t accept the offer. Let the court settles it

 

[Sammyesx]

That is one problem with partnership business, you can not guarantee the discipline of the other person that is why I prefer going into partnership with a family member, though it is not still 100% guaranteed. Your brother should just share the remaining part of the business into two, then each person get his share if they contributed equally to start the business.

 

[Tmanroyal]

I always suggest to people that before you start partnership business with anyone, Make sure a concrete agreement is established first, the business must be on a legal agreement that will bind the parties together so as not to misbehave.

 

[Janita]

Of I share my personal experience about partnership so it was worst because partnership goes good sometimes not Everytime because already there are so many issues between the partners which arise after some time so my suggestion is to stop doing business together as much as you want because this will put you down at one level.

 

[Zubair]

My brother and his best friend started a game house business back in the year 2012.

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issue?

I they should separate it now. A person who leaves you alone in your hard time in never a friend. You talked about what your brother should do now? I think he should not continue partnership anymore. Give him his shares, and start another business if current business is not going well. It is better to lose less than losing all of it.
[automerge]1611296179[/automerge]

My brother and his best friend started a game house business back in the year 2012.

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issue?

I they should separate it now. A person who leaves you alone in your hard time in never a friend. You talked about what your brother should do now? I think he should not continue partnership anymore. Give him his shares, and start another business if current business is not going well. It is better to lose less than losing all of it.

 

[Ojonuyo]

That's not fair from that your brother's friend. Anyways the deed has been done, the only way out is to dissolve the partnership with him, and probably start up his own personal game house. And in case of next time, your brother should ensure there is a signed agreement between him and whoever he wants to partner with.

 

[Chumzy]

Partnership has its own issues just like every other form of business Organisation. One of them is disagreement among partners and it is the most popular. Another one is that the partners have unlimited liabilities in respect to their debt obligation.

 

[Eamodu]

My brother and his best friend started a game house business back in the year 2012.

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Find Home Here!​

semp.net​

​

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Click Here!​

Find Best move Here!​

semp.net​

​

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issuhown

• Adamant

​

• Business Model

My brother and his best friend started a game house business back in the year 2012.

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issue?

Sad to read this, partnership business is not always the best really. Back to your question, was the any kind of written agreement to show how profits of the business will be shared?or is there any written agreement to show expenses spent before the business started? As it stands, I think your brother should discuss with your friend. Let everything be sold ,then the money shared. Then your brother can find more money to start the business again all by himself.
[automerge]1611732122[/automerge]

My brother and his best friend started a game house business back in the year 2012.

Click Here!​

Find Home Here!​

semp.net​

​

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Click Here!​

Find Best move Here!​

semp.net​

​

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issuhown

• Adamant

​

• Business Model

My brother and his best friend started a game house business back in the year 2012.

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issue?

Sad to read this, partnership business is not always the best really. Back to your question, was the any kind of written agreement to show how profits of the business will be shared?or is there any written agreement to show expenses spent before the business started? As it stands, I think your brother should discuss with your friend. Let everything be sold ,then the money shared. Then your brother can find more money to start the business again all by himself.

 

[GIFTMICHAEL]

A collapse business is collapse business. It is not possible to resurrect a dead business that has shut down completely. Demanding for share when it is obvious before your eyes that your partnership business has collapsed.

 

[Hammad1245]

It depends on the type of business model they are running. However if your brother doesn't want him to quit ,then he should try and convince the friend to stay and if the friend insist on a dissolution, then he can leave.

Yes it is better to resolve an issue. In business the seperation may result in a big lose to all the partners. It is because a business runs will if it is managed properly. More people if understandable manage business better.

 

[Hasan Raza]

Surely partnership is a tough task where the partners mind and thinking is different.Partnership is so complicated. I would rather go alone as sole proprietor than split every decision I make with my partner. In this case, if it is decided to not continue the business then they should divide their assets. However, if they can still be convince to continue, they should innovate their business to adapt with changes and make improvements.

 

[Lyrrex]

It depends on the type of business model they are running. However if your brother doesn't want him to quit ,then he should try and convince the friend to stay and if the friend insist on a dissolution, then he can leave.

 

[EMMANUEL]

Partnership issue:
what is the partnership itself, understanding it will help know how to survive a partnership business, also knowing all that it entails meaning the deed is what will make to rethink if you are to go for a partnership business or a self own business or sole propeitorship.
Partnership in a layman's understanding is the coming together of two or person in other to actualize a specific paln or purpose with an agreement on the sharing profit and loss ratio percentage receive during the cause of the business.

 

[Adebayonle7]

Partnership appears so appealing in the beginning and many people only choose this kind of business ownership because they couldn't raise the required starting capital on their own and they needed help from someone to accomplish that but it does not always end well. It never does. Your brother should share what is shareable and move on. It is better now than later when it is a big brand or enterprise .

 

[singlej007]

This is a serious issue, and this may take your brother back to quare one if he has no savings before to add to his own share it will be too bad, my brother has fall in this kind of business and it was not good at all. Let them share it, he has no choice, he has learn his lesson.

 

[Shahid Abbas]

My brother and his best friend started a game house business back in the year 2012.

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issue?

In business, ups and down are part so we should not have a disapoint. Both friends should work with the patient and hard work because there are many businesses which have suffered a lot due to pandemic so they should not panic and continue their buisness.

 

[Kaindio Agnes Wanja]

My brother and his best friend started a game house business back in the year 2012.

When the business started, it was very successful and both friends were happy together until recently, his friend started lavishing money and the business started going down.

Since the beginning of this year, the sales went down and because of the pandemic, they had to close down the business and I know you could imagine how it will feel like.

Somedays ago, my brother friend came to tell my brother that he doesn't want to continue with the business anymore, that he needs his share.

Please how do we solve this issue?

I think the best thing here to do is to divide the business assets that is if your brother's partner needs to dissolve .
In this case they should engage law in dividing the assets so that no one will be owing the other at the end.
If your brother doesn't want him to leave he should look for a way to convince him to stay atleast for the business to regain again

 

[Trojan8]

Well in this case there's nothing to be done other than to split the business. There was no contract signed stating how long it was expected to last. I feel there's a high level of possibility of things picking up real soon. Your brother should find a way to settle him and keep the business. He should also document this dissolution in case he decides to look for trouble.

 

[golamike]

I don't understand what you meant by your brother's partner lavishing the proceeds from their business. Aren't they supposed to be in partnership? No single party has the right to spend a dime from the business fund or take any decision without the consent and agreement of the partners. They are supposed to be running a joint account. That said, I think your brother needs to talk with him, but if he insists on quitting, then he has to let him be. They just need to settle and move on with their individual lives. I believe your brother would learn a lesson from the experience.

 

[Abelcairo43]

He is funny, share of a business that has close down and that is why I don't really buy into partnership business because nobody can be trusted, especially when it comes to money and since the business is closed down he should tell him there is nothing of the business again