Comments on: Divorcing your business partner http://smallbusiness.blogs.cnnmoney.cnn.com/2008/08/01/splitting-from-your-business-partner/ Editors from FSB magazine answer your pressing small-business questions. Tue, 15 Dec 2009 12:52:55 +0000 http://wordpress.com/ hourly 1 By: Svetlana K, Miami, Fl, www.ecompetitors.com http://smallbusiness.blogs.cnnmoney.cnn.com/2008/08/01/splitting-from-your-business-partner/#comment-823 Svetlana K, Miami, Fl, www.ecompetitors.com Wed, 06 Aug 2008 21:44:00 +0000 http://askfsb.wordpress.com/?p=479#comment-823 In my opinion, your partner must give your money back. So try to talk to your partner again. But if she will leave you with nothing try to go to the court. In my opinion, your partner must give your money back. So try to talk to your partner again. But if she will leave you with nothing try to go to the court.

]]> By: John K Coleman, New York, NY, www.ecompetitors.com http://smallbusiness.blogs.cnnmoney.cnn.com/2008/08/01/splitting-from-your-business-partner/#comment-819 John K Coleman, New York, NY, www.ecompetitors.com Wed, 06 Aug 2008 20:29:22 +0000 http://askfsb.wordpress.com/?p=479#comment-819 My advice to you: you must find a good lawyer and try to get back your money. My advice to you: you must find a good lawyer and try to get back your money.

]]> By: will kissimmee florida http://smallbusiness.blogs.cnnmoney.cnn.com/2008/08/01/splitting-from-your-business-partner/#comment-815 will kissimmee florida Wed, 06 Aug 2008 14:16:59 +0000 http://askfsb.wordpress.com/?p=479#comment-815 Can't say as I blame the 'staying' partner. Quite often, businesses are run on tight margins...especially the restaurant business. In a case like yours, a 'buyout' would likely mean that she would have to take out a loan to pay you off. That ONLY means HIGHER OVERHEAD and lower (if any) profit margins. I had a partner in some housing do the same thing on me. They wanted out. I took out equity from the properties and all I got left with (after years of sweat, blood, tears)...was a higher payment! In the future, my recommendation is that you negotiate your partnerships in such a way that NOBODY can get out of them in a manner which would encumber the 'staying' partner with an unreasonably high burden of debt for the buyout. Can't say as I blame the 'staying' partner. Quite often, businesses are run on tight margins…especially the restaurant business.

In a case like yours, a 'buyout' would likely mean that she would have to take out a loan to pay you off. That ONLY means HIGHER OVERHEAD and lower (if any) profit margins.

I had a partner in some housing do the same thing on me. They wanted out. I took out equity from the properties and all I got left with (after years of sweat, blood, tears)…was a higher payment!

In the future, my recommendation is that you negotiate your partnerships in such a way that NOBODY can get out of them in a manner which would encumber the 'staying' partner with an unreasonably high burden of debt for the buyout.

]]> By: Anonymous http://smallbusiness.blogs.cnnmoney.cnn.com/2008/08/01/splitting-from-your-business-partner/#comment-814 Anonymous Tue, 05 Aug 2008 17:57:19 +0000 http://askfsb.wordpress.com/?p=479#comment-814 Kath - Do you have a buy/sell agreement in place? Also, what, if any, provisions have been put in the partnership agreement? Kath -

Do you have a buy/sell agreement in place? Also, what, if any, provisions have been put in the partnership agreement?

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