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

[glitch]

I have never been in this position to know. I think it would come down to finer details and circumstances. In some cases, I would take the option of being bought out assuming the money is fair.

 

[tyrim88]

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.

But in any form of business that you are going into with a partner,you should be able to sign an agreement and come to mutual understand among the parties,to avoid future litigation when interest crosses.

 

[Alisco]

It's not a big to settle only if the co-owner is not problematic you make a negotiation if only you want him to own the business. But if you too want the business then settling this issue needs regulatory bodies intervention.

 

[Good-Person]

It's not a big to settle only if the co-owner is not problematic you make a negotiation if only you want him to own the business. But if you too want the business then settling this issue needs regulatory bodies intervention.

I think that such kind of things should be discussed before entering into contract with your partner. If a co-owner wants whole business, then he or she cannot technically own it until or unless you, as a co-owner, give up your ownership.

 

[Alisco]

I think that such kind of things should be discussed before entering into contract with your partner. If a co-owner wants whole business, then he or she cannot technically own it until or unless you, as a co-owner, give up your ownership.

Situations may arise in the middle of the business partnership where by a co-owner may want to have the whole business. In such situations crisis may arise if legal mindset is not initiated.

 

[Shaffy]

It would be best to let go of it to the other person, if I would get paid for my own part. It will be hard to start another business, but it will even be harder to continue work with that person.

 

[Agbalagbaa]

It depends on the level of agreement we established before starting out.
If I see that his desire is genuine and I am in position to leave ,I would allow him to continue running it.

 

[Shigobad20201]

You mean to say that if I am partnering someone in a business and the person is trying to take the company for himself which is a very bad thing to do to your patner , all what you have to do is share everything after inviting the authority to settle things for You ,

 

[Jonaville1]

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 it is very crazy for a co-owner to want all of the business and I will make sure that we go to the court to settle the case amicably because I am still a co-owner of that business

 

[Trey]

That is when you have to refer to the memorandum of understanding signed before the partnership started. With that, you can take the matter to court.

 

[Abasiama40]

Things like this happen alot even among siblings. I have a friend that owns a business with the sister. He actually started the business, did all the running around and everything. When the sister came back she wanted to be the only signatory to the business, the brother refused and that was the end of the business. So, I do advice people to run their own business themselves.

 

[Trey]

Things like this happen alot even among siblings. I have a friend that owns a business with the sister. He actually started the business, did all the running around and everything. When the sister came back she wanted to be the only signatory to the business, the brother refused and that was the end of the business. So, I do advice people to run their own business themselves.

Even if you are doing business with your biological mother, sign a documented agreement. If possible, let a lawyer explain the terms to both parties before they sign. I don't trust anyone with money.

 

[Kane]

If you are in a partnership business and your partner wants to be the sole owner, you can evaluate the business value and then get your money and the n use your money to start your own business.

 

[Frank]

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?

This is one of those reasons I don't feel okay with owning a business with someone else. Ideas are always going to differ and when your business partner is not someone that can communicate, it can become an issue in the future too.