Business partnership Problem

Discussion in 'Growing and Managing a Business' started by shivshakti, Oct 26, 2014.

  1. shivshakti

    shivshakti
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    I m managing a logistics service agency. I have problem with my partner, he has opened parallel company and pretends that it is run by his friend. When he joined me he was new to business, i was a working partner and he was a kind of investor, but on gradual business profits he started getting special attention and finally opened a company with out knowledge.
    Suggest me a solution, :dunno:
     
  2. webdesignphx

    webdesignphx
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    Do you have an operating agreement? I would create an operating agreement and inside the agreement mention non-compete in the industry. So he can only work with your company in the business for a certain amount of time. Also, I would talk to him about the situation. The longer you let it sit without conversation the worse it will get for the both of you.

    Sounds like it is unethical in my opinion and I would put something in writing to prevent this from happening again. I have a business partner and we have an iron clad operating agreement.
     
  3. shivshakti

    shivshakti
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    i did have agreement, but he pretends to say, this parallel company as mere co-incident. And there is nothing intentional about it.
     
  4. Suman Verma

    Suman Verma
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    You know what his parallel business doesn't matter unless it is affecting yours. If you business is affected and he is the reason for the same then you can surely talk and get thing fixed for you. Though what he is doing is unehtical in business terms but the only way out is to have an open conversation and keep your point to him.
     

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