Kismitt
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it should be 50--50. You might regret this if you let him have controlling interest. he will be making all desions over everything.
yes it is a bad deal |
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wrldzgr8stdad
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don't let him fool you. if he gets majority, he gets it all. total control over EVERY aspect. he can even buy you out without your knowlege or concent. never a good idea to let someone have that level of control. |
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Big Jimi
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Sounds like he's entitled ! |
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arulanjaneyan
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The decision needs to based on several factors like money invested, line of business, your and your partner's credentials and experience, risk taking abilities, roles and responsibilities you both might perform in the business etc., A self assessment would tell you who can lead the business well. But still, a good consulting/law firm might be the right one to ask for a decision in this case.
In a partnership, it is essential that matters are resolved amicably between yourselves and reach an agreement. Review your situation and take a prudent decision. |
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deb1975@sbcglobal.net
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Do NOT do this!!! At 51%...it gives him controlling interest, and yet you bear the same responsibility of a partner. He can make bad business decisions that you have no say over...yet will affect your lifestyle, income, credit, etc. Go to an attorney that specializes in business law...learn your rights before entering into any "deals" with this person |
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Tiffany L
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I don't think that it sounds like such a great idea. I feel that if you are going to enter into a business relationship like that then it needs to be completely fair and equal. I would imagine that your partners 51% ownership will become more of an interference than an asset or help. I'm by no means a successful business woman but it just doesn't seem like a smart decision. Good Luck!!! |
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themountainviewguy
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If you and your partner cannot get along and he needs to have veto control over you ... do not go into business with him.
Talk to a lawyer or trusted business advisor, do not believe
what people tell you here ... you can think about it though. ;-) |
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David B
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i would certainly not go into it without consulting a corporation attorney of my own hiring. That said, depends on what you have to invest and how you get out if you have to. |
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?
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no |
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Garacaius
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The downfall is you essentially become an employee. I would hand you a bag of dum-dums if you were here. |
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mcdannells
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You are the one who made this company what it is today? He wants to own more of it?
If I made the company what it is today there would be no way I would give up more then half of it.
This person wants to be in control, if this is OK with you then go for it. If you have hesitation do not do it! |
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