Problem with partnership

[manlymatt83]

So, the deal now is - I'm going to buy her share of the company. Does anyone here know anything about removing managing members from LLC's? What does it take?

 

[Skeeedunt]

I typed "mjuszczak" into your coupon code box, but it just told me go pound sand. Can I get a 70% off code or something?

 

[pstylesss]

Originally posted by: mjuszczak

Originally posted by: Bignate603
Buy her out and hire somebody decent. If she won't do that contact all your customers and tell them that you are going it alone with your own company. Transition them all over. You've got the contact with the customers, you control the income source, she has very little hold on the actual heart of the business.

This is the :thumbsup: idea. I'm already forming a personal LLC just in case.

Do that and give up your stake in the partnership then bring your clients with you and hire someone do the administrative part of the business.

 

[Beattie]

I guess now you know why partnerships are never a good idea. You probably can't just take the customers to another company without being liable for some kind of damages. The partner does own 50% of everything regardless of how much work they put in after all. You should try to buy them out and then hire someone to do that work. Pay them money, or a percentage of generated income (commission) not with ownership.

 

[manlymatt83]

Originally posted by: Beattie
I guess now you know why partnerships are never a good idea. You probably can't just take the customers to another company without being liable for some kind of damages. The partner does own 50% of everything regardless of how much work they put in after all. You should try to buy them out and then hire someone to do that work. Pay them money, or a percentage of generated income (commission) not with ownership.

Ya, this is what I'm thinking.

 

[kranky]

Originally posted by: Bignate603
Buy her out and hire somebody decent. If she won't do that contact all your customers and tell them that you are going it alone with your own company. Transition them all over. You've got the contact with the customers, you control the income source, she has very little hold on the actual heart of the business.

That's what I would do. In fact, I would probably skip the buyout step and just bail. She really hasn't carried her weight and doesn't deserve a buyout. Before you do that, though, better review any formal partnership agreement you may have to make sure you don't shoot yourself in the foot legally.