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Old 24th April 2012, 07:47 PM   #1

Join Date: Apr 2012
Posts: 2
Default Partner Issue

Last fall I was talked into starting a business with a "friend" who used to run a pawn/swap shop
After seeing some of the figures he used to make I decided that extra income might be a nice break from the horrible economy and because he was a friend I trusted him and his wife
After some searching I found a building that would work for a store and made contact with the building's owner
My friend and I signed a lease and started setting up the store which took months of work considering the building had been vacant for quite some time
Five months and 19k later we had the showroom completed and filled with inventory and ready to open but still no LLC or business agreement in writing
I asked many times over the 5 months about the LLC and there was always an excuse or problem of why we didnt go get the paperwork done
Then out of nowhere my partner changes the front door locks on the building and gets a DBA partnership with his wife and starts selling everything I paid for out of their new store
By the time I could get an attorney involved he had sold what he could and then emptied the entire building of anything worth money
I contacted local PD and they wont do anything calling it a "civil" matter yet I lost 20k over 5 months and the partner paid for nothing
How can taking business assets and keeping them be civil?
I spent 20k and 5 months trying to start a business and all I have is an empty building with no assets and a bunch of unpaid bills
Where does the line between civil and criminal end?

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Old 26th April 2012, 09:33 PM   #2

Join Date: Jun 2004
Location: Colorado
Posts: 8,047

I guess with the police's decision made. Does your attorney not have an avenue to pursue this via a civil suit. If so part of the suit should include your attorney fees. Sorry to hear of your bad luck.

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Old 6th September 2012, 12:04 PM   #3

Join Date: Sep 2012
Posts: 3

That's really one of the toughest part when you have a partner. You need to deal with him in every aspect.

Are there any specific details on the contract that would say some things are off limits to him?

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Old 14th September 2012, 01:12 AM   #4
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Join Date: Sep 2012
Posts: 22

It sounds like the local PD are not doing their job properly and you would have more luck pursuing the matter with the help of your attorney.
The business started as a partnership, they would therefore need your permission for any name change. Changing the locks also seems criminal.
I think perhaps you should have acted sooner though, because it is now at a stage where your partners can deny everything you say and you would have difficulty in finding proof.

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