What do you do if a co-owner wants all of the business?

[Grant]

Lets say you're a co-owner of a company. It's just you and another person. Lets say there is a falling out between you two. What do you do? I imagine you will have to either find a way to work together, or each of you will have to try and buy each other out of the business.

I thankfully own everything I work on for the most part, so I don't need to worry about this. But it made me wonder because a friend of mine co-owns a company with another person. And the two haven't been seeing eye to eye on things and want to do different things. Both can't come to an agreement and want to buy each other out of their ownership.

What would you do?

 

[Popular]

That is what I cannot try to do because of a situation where the co-owners have to different conflicting ideas which they want to execute. In such situation, everyone of them should agree to divide the business.

 

[Bousine123]

I can't imagine owning a business with another person, rather i prefer to do my business alone, so that everything will be mine, either the gain or the loose.

 

[Chibson]

That is what I cannot try to do because of a situation where the co-owners have to different conflicting ideas which they want to execute. In such situation, everyone of them should agree to divide the business.

Probably, I think before you go into a business partnership you must have a written agreement. If a co-owner wants out of the business then it should be divided equally.

 

[Popular]

Yes, I agree with your point. When such is included in the terms and conditions of operation. It will be easily resolved when both owners want to go their separate ways.

 

[Billy]

Well, first I'd ask them why they want it. If they say, "Because I own half of it," then I'd probably have to say that's not possible. But if they say "I just want to keep the business going," then I'd probably just say that's fine.

The only time this would be an issue is if one person owns more than 50% of the company and wants to sell their shares or transfer ownership to another party. In this case, it would be best for both parties to reach an agreement on how much money will be paid for said shares, who will get what percentage of the company after said sale, and whether or not there are other factors involved (e.g., if one party has made a lot more money than the other during their time as co-owners).

 

[Setho]

There is supposed to be a time when you guys are coming to set up a business that you will agree on something like this because it does not make any sense to wake up one day and want to be the sole owner.

 

[Potuse]

It is quite interesting, but I must confess, it would be very difficult for any one of them to agree to the plot. They would rather prefer an outsider to buy both of them off rather than buying themselves off. I don't think that it's going to work.

 

[Chibson]

If a coworker wants our business all for himself then there must be some kind of compensation because I may own 50% of it and he or she owns the rest. There should also be an agreement.

 

[tyrim88]

One of the things taht we have to understand about partnership and going into business,is that before yu go into any partnership you have to know the person very well,and ensure you share the same value system,and things need to be put into writting.

 

[Genie011]

I would sit-down to amicably discuss why he want all of the business and if their is an problem from my end that I could correct I would effect the correction immediately.

 

[Kvngsammy]

In the end, they'll have to learn how to maintain a good working relationship as they'll still be partners for a long time. The more reason why partnership should be really vetted before jumping headlong in.

 

[eenya001]

i believe that before you go into a co ownership in business, you need to cover the legal angles and also prepare for something of such as it is bound to happen, so that whenever it happens you are covered legally and have nothing to fear

 

[Ononivami1]

i believe that before you go into a co ownership in business, you need to cover the legal angles and also prepare for something of such as it is bound to happen, so that whenever it happens you are covered legally and have nothing to fear

Since we have separated ways and want to go our different ways to plan for our lives. I will not hold him responsible for anything if I no longer have interest in the business provided he can pay me off.

 

[UsmanAmoyo]

I would sit-down to amicably discuss why he want all of the business and if their is an problem from my end that I could correct I would effect the correction immediately.

That's the right thing to do honestly, sometimes it's as a result of the minoer differences of personality and opinions that such problems exists. And it would be best try making amends before taking any serious action.

 

[frederick_9]

I find it impossible to conceive running a business alongside another person. Instead, I prefer to work on my own, ensuring that all profits and losses belong to me.

 

[Ronald]

Lets say you're a co-owner of a company. It's just you and another person. Lets say there is a falling out between you two. What do you do? I imagine you will have to either find a way to work together, or each of you will have to try and buy each other out of the business.

I thankfully own everything I work on for the most part, so I don't need to worry about this. But it made me wonder because a friend of mine co-owns a company with another person. And the two haven't been seeing eye to eye on things and want to do different things. Both can't come to an agreement and want to buy each other out of their ownership.

What would you do?

I think that the two parties would have to come to a compromise at the end of the day. If there is still an impasse, then it would be best for the two parties to go their separate ways with one buying another out of their partnership.

 

[Good-Person]

I think that the two parties would have to come to a compromise at the end of the day. If there is still an impasse, then it would be best for the two parties to go their separate ways with one buying another out of their partnership.

I also believe that it all depends on the partnership agreement. usually when a partner wants to acquire all the business, then he must create a new agreement with his partner.

 

[Ronald]

I also believe that it all depends on the partnership agreement. usually when a partner wants to acquire all the business, then he must create a new agreement with his partner.

This is a valid point. The two best solutions in this case is for both or all of the partners to kiss and make up; in addition to one of them buying out the others by making an irresistible offer to purchase the enterprise.

 

[Nadiel sahmen]

The co-owners have two opposing ideas that they want to carry out, so I am unable to try to implement any of them. In this case, everyone involved should agree to split the business.