I get a lot of calls about the subject of dividing the percentages of ownership when the contributions are not perceived as being equal. Squabbles over equity also bleed into other issues such as control of the business and, in some cases, whether the partner who put in cash has a “right” to dismiss the partner who contributed work.
I deal with family business problems all the time. Frankly, they are by far the hardest to resolve.
You asked for it so I’m offering binding mediation under specific terms. Before we get to those terms, let me explain binding mediation.
If you make an agreement with your business partner that you will ALWAYS reach agreement on ANY business item that comes up, no matter how strongly you both feel and no matter how far apart on an issue, your partnership will thrive.
A few people have asked for this: Set up a place where you can submit questions about your own partnership problems. I liked the idea so much, I did it!
In order to remove a partner you’ll need to take legal action and then you must prove your case in court.