How to get rid of ex who invested in business?

[Anonymous]

I own a business in which I allowed my ex to become co owner and be my associate. They invested money into remodeling my business and now I can’t seem to get them to move on. All we do is fight about money and I can’t get rid of them. What should I do? I’m in love with a whole other person who wants me to get my ex out of my life but they are involved in my business and I regret it. What can I do?

[WindAtMyBack]

This is why I don't like having a business partner. It's like being married except potentially it's harder to get out of.

I had a business partner once. We were 50-50 from the start. On a personal basis we got along fine. But we had very different ideas on how to run the business. As a result the business ended up stagnating.

You need to find a way to buy them out, even if you have to work out a payment system. If you can't work something out, you'll have to talk to lawyers and see if there is a way to force the issue. You want to avoid that if possible though.

There is also the option of you selling out or even shutting down. You might not want to, but it might be the only way to get him out of your life.

[Asker]

So, your saying I should shut down completely and see if that makes them move on?

[Asker]

He even threatened me to get a restraining order for my current boyfriend so that he can’t come to the business. It’s a big mess

[WindAtMyBack]

I'm trying to avoid saying what you should do. I'm laying out the options. Which route you take depends on you, and how important these things are to you. It's a tough decision and only you can make it.

If you can't work it out between you, talk to a lawyer. Do you know if your ex has a legal claim to part of your business? A lawyer has already replied to your question. Maybe he'll be willing to give you some general information. I really think you should try to work this out without getting into a legal battle. But it might be nice to know where you stand legally.

[Asker]

Can he end up taking my business away?

[WindAtMyBack]

I don't know. I don't have enough detail and don't know how the laws would apply. It's going to depend on a lot of factors. I imagine things like the state of the business before he got involved, how much money and time both of you put into it, what kind of agreement you had etc.

From the little you said, it sounds like he legitimately has a claim to part of the business.

Your new SO is completely irrelevant as far as the business. They are not part of it, unless there is something you didn't mention. You already had a business and a business partner. That business and partner came with you and your new SO has to accept that.

You said you argue about money? Like how?

[Asker]

He is wanting me to give more money in pay roll and I don’t want to. I can’t stand looking at this person and I want him gone. He is like a devil on my back and is very money hungry. He is also starting to tell people he is the only owner and they keep mentioning only him in the google reviews. He has filed a restraining order on my lover out of jealousy. I really hate him

[Asker]

I would never ever remember working with a romantic partner is the biggest mistake ever

[WindAtMyBack]

I think you either need to bail, or go see a lawyer right away.

If you see a lawyer, try to get everything in order first. Try to be very organized and detailed about everything. You want to be able to clearly say what you have put into the business. How much time and money? How much time and money did your partner put in? Who actually started the business? What state was it in when your partner entered the picture? Was it a running profitable business when they entered? What kind of agreement did you have? Was it in writing? Was there a clear senior partner? You want as much detail as possible and have it organized.

I think you also need to document anything your partner does to undermine you.

How did your partner get a restraining order and why? I don't know much about the law on this, but I don't think courts hand out restraining orders for no reason - certainly not just because someone wanted it.

[Asker]

My lover has sent bad texts to him telling him to move on

[Guy13]

You are screwed... see attorney for details of Screwed

[Asker]

Why am I screwed?

[kylee2437]

So your current partner wants your ex out of your life, but doesn’t understand that , this is something that isn’t going to just take over night to happen. Your new partner sounds concerning.

[OlderAndWiser]

Do you have the money to buy out your ex?

[Asker]

No I don’t

[OlderAndWiser]

Can you find another investor to buy out his interest?