Welcome New User! ( Create Account | Sign In )
 
Question

Submitted 314 days ago...

wcp

wcp

New User (2)

Terminating a business partnership

I have come to realize that my business partner has been embezzeling money. I am 51% owner, he is 49%. We had legal documents writtened up when we started in 06'. I want to terminate the partnership based on his stealing money. How do I go about it?

 
 
 
Answers
 

Answer 1 / 1

Submitted 237 days ago...

k_st8r

k_st8r

Beginner (59)

You can't steal from yourself. You are entitled to 51% of everything. If he took 1000.00 5100 is yours. At the end of the month it comes out of his "share" .If he has access to the money without your approval fix that mechanism. Make the accounts require 2 signatures. You want out get out. either buy him out or have him buy you out. Just because he has received funds, doesn't mean you dont get yours. An accountant/lawyer can fix this. Make sure the amounts involved warrant the added expense.

 
 

Answer This Question Now

If your Answer is chosen as the “accepted” answer, you will earn ongoing royalties on this thread.
Simply type your Answer in the box below and post your answer.

Email Subscriptions

Author adds clarification

All new responses

Related Questions
 

This Question has not been awarded yet.

Post your answer now!