Docklands Solicitor

Before starting a business you need to sit down with the people who are going to be involved and agree, in writing, money and time investments, rewards, exit routes and strategies.

If you do not, if the business owners have a disagreement the legal work has to concentrate on analyzing conversations to establish what the agreements were - a labour intense exercise and one where the conclusions may well be disputed by the parties involved.

If a disagreement occurs there are usually the following options if the other business partners want to get rid of a partner.

Option A
Spend money on lawyers and accountants to argue your dismissal / the deal and the value of your shares, with the hope that they can agree to get increase in offer more than costs spent or alternatively risk the venture going bust and getting nothing.

Option B
Spend your time arguing your dismissal / the deal and the value of your shares with the hope that they can agree to get increase in offer more than costs spent or alternatively risk the venture going bust and getting nothing.

Option C
Sit tight and do nothing. Hope that one day someone will offer a lot of money for the shares or risk the venture going bust and getting nothing.

Option D
Grab the money on offer. Put the whole thing down to experience. Resolve to deal with businesses matters properly next time


If you want help setting up your business contact Michael Breeze on his Mobile: 07 900 195.195 email: mdb@kaslers.co.uk

Labels: advice, business start up