What do I do to get rid of my co-founder and personal friend who I signed on as a 50/50 partner a few years ago?

It can be quite difficult when co-founders don’t share similar ideas or approaches. It appears that your situation has been made even murkier because your investors come from his connections. This is why proper business planning should take place. Such planning is designed to protect your business from the following:

  • The government-ensuring that you aren’t breaking any laws as you conduct business
  • Third-party entities-such as the public or even how to handle competition
  • Each other-businesses should always outline the expectations, visions, and how to handle disputes within the company.

I am assuming you at least skipped the last step. However, it’s never too late to come to set these kinds of expectations. Because of your stark differences, you would benefit from the advice of an attorney. You could hash out particular disagreements as well as give each of you a solidified role in the company with strict boundaries so that you don’t feel like the other individual is always stepping on your toes. Rather than risk damaging your business, a skilled attorney could help you negotiate new terms.

LawTrades can connect you with a quality business attorney. The attorney will be able to help you negotiate and create documents that help organize the issues that you are experiencing or discuss other options if this is simply not a good solution. Contact us today for your free consultation.