Director issues within business........where do I stand???
01-04-2008, 03:21 PM
#1
I am a business owner within a limited company upon where I added around £30,000 of my own money when we set up. I am responsible for the admin and cars sales side and my business partner is a skilled technician. I have been managing to return some of the money I lent the business of around £10,000. I have been keeping a record of this on my accounting package, so do have accounts of it. I also have taken considerably less wage than my business partner, as whilst we have big set up costs I have been sacrificing my income for it. So in summary, the business is 2 years old, on paper we are equal business partners, but when we have a tough time although I am the one who has invested all my money, I am the one who suffers and he has been unwilling to help by taking any drop in his wages, although he hasn't added and capitol at all. He has now got married and I am now worried that anything happens in his marriage that his new wife will want a claim on the business. Where do I stand legally on all this as I feel I am now getting a one sided deal, and cannot go on like this anymore. So really I am down on wages and capitol, where if anything happens he can walk away without a worry and get another job and I am left with nothing as he hasn't invested anything. Please can anyone advise me on this?
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