Home – New Forums New here? Share your story Selling a company Reply To: Selling a company

#1183559
LucasArthur
Participant
  • Total posts: 3,171
Up
0
::

Hi Buku {is it?}

Easiest response is what was the agreement going into the business? Are you a director, are you on the business or are you merely a ‘donor’ of the funds..

Your best result in obtaining information about this would be to review your arrangement going in, and if the relationship is soured, seek legal advice.

Unfortunately, the advice is not going to be as black and white as you are asking.. what did the other person contribute and more to the point, why should you receive all the funds from the sale amount if the partner invested all his time and knowledge into the business.. Did you get an ongoing payment, or was there no payment at all.. My questions are merely to suggest that this is a rather complex scenario without knowing the inns and out of the entire business and operation, of which i am sure you would be unwilling to share… And even if you did, i would not back my life on ‘free’ advice from a forum if funds and legalities are in question..

Anyways, welcome to the forum and what a starter question :)

Jason

Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888