| Considering starting a partnership? Already in
a business partnership? Consider what happened to this once successful
business growing outstanding quality landscape plants. The
result is that one partner has lost his business after 28 years of working
hard to build it up. This business had been run on a basis of trust
between two relatives. Don't assume that "loving parent" that
sweet talked you into devoting your life to the family business has
any real concern for your future, nor sees any obligation whatsoever to
see the business pass on to the next generation, or will even to let you
buy the business in order to keep it going.
If you are in a partnership,
FROM THE PARTNERSHIP IMMEDIATELY.
DON'T START A PARTNERSHIP!
Don't let this happen to you. I'm posting this in hopes that just one
person sees this in time to see themselves and prevent a similar
situation. Had I thrown the towel in and started a new business myself 10
years ago, I might have something to show for it by now... Instead I'm
just now starting over. If you don't have written ownership spelled out,
then you don't really have anything. Fortunately, part of the business is
on my land, so at least I still own that..