After some work advice.

helpimcrap said:
It's just something I've been informed of to get an idea of the person. If a meeting happens I can see and get a genuine feeling. I don't read much into hearsay. If it crops up I agree it's a separate issue. My friends pretty set on it and it's all begun already so I'm just advising from the sidelines.
Click to expand...

I appreciate that you're trying to help your friend, but if they're an adult and making a business decision then I'd just give them my honest opinion as a friend and let them get on with it.

People have to make their own mistakes in order to learn.
 
helpimcrap said:
The idea is they wouldn't be running the show as they do not have the skills. It should be relatively straight forward but until a meeting is arranged I do not know the exact difficulties.
Click to expand...

That's not a good idea at all because no matter what happens, the son will always be the son of the owner and will never accept what someone else in charge says. They will make life difficult for whoever is in charge just because of who they are and will always act like they're in charge. You've already said that they're an "absolute douche" so why on earth would anyone even consider a partnership in this scenario? Your friend needs to move on asap. They'd be more valued elsewhere.
 
Maybe if your friend has all the skills but none of the money, his efforts would be better invested in drawing up sensible business plans etc. and getting a decent business start up loan from a bank?

More risk in a sense (but consequently more reward for your friend if successful, rather than the money man in the partnership more than likely expecting to hoover up all the profits for none of the effort) but then going into partnership with someone who is being described as an 'absolute douche' is hardly a risk free career move. I'd rather be in a financial 'partnership' with a bank than an idiot.
 
To be honest, this partnership sounds like a nightmare. Your friend can walk away now but once it the contract is in, your friend is legally bounded, it will be difficult to walk away.
 
helpimcrap said:
The idea is they wouldn't be running the show as they do not have the skills. It should be relatively straight forward but until a meeting is arranged I do not know the exact difficulties.
Click to expand...

Plans and reality don't always match up. Perhaps they'll agree to and stick to an arrangement which hands total control of their parent's business (which they're presumably in line to inherit) to someone else. And perhaps they won't. Perhaps they can calmly assess the situation and decide that they're not up to running the business and what's best for them is to be a sleeping partner who plays no role in the business. Having them working permanently in their parent's business as a de facto subordinate to your friend sounds to me like something that will definitely not work out well.

Pudney said:
This is a really weird thread. You seem to be suggesting acting as a mediator in some sort of business agreement? Honestly I don't see the point. If your friend really wants to be doing this (and I'm not sure that is the best course) then it's best this is set out with a proper legal agreement depending on the actual legal structure of the "partnership" and each side getting relevant legal advice that can actually input into the correct areas that need to be dealt with, not just the obvious ones.
Click to expand...

That too. In spades.

Maybe, just maybe, possibly, an informal meeting might be a first step, just to see if there's any possibility of an agreement. Not to make any agreement. Just to see if an agreement is a possibility before buying relevant legal advice to work towards making a proper legal agreement.
 
You must log in or register to reply here.
Back
Top Bottom