I get a lot of calls about thieving partners. People are often disappointed when they hear the answer. If your partner takes $20 out of the bank account using the company’s ATM card and uses that money for lunch, it’s not stealing.
Every responsible article on this topic will start with the recommendation that you review your partnership agreement. You can still get out without an agreement.
Is It Time to Quit? Dissolving your partnership and or folding your LLC is a big move. Be certain that you and your partner are clear about this decision.
It’s normal to have some problems with your business partner. All partnerships experience periods of tension. So put down your worries and read about the 6 things to do that will help fix problems with your partner.
Majority rules in an LLC unless your Partnership Agreement says otherwise. That means any changes in ownership affect voting power.
Here are 7 important points to consider as you work out an agreement on compensation with your business partner. Above all, remember you can do anything that legal and agreeable to all partners.