I need some help in my business. Talking about a buy out and I want to make sure I'm thinking correct
@MumaMiami7 ай бұрын
What makes it 51/49? Do I need a contract or is it simply the payroll?
@caenterprisellc69222 жыл бұрын
I currently own 100% of the company, but there will be 49% equity available in the near future.
@danielbarker373 жыл бұрын
÷1.520=380=5756 🇺🇸
@danielbarker373 жыл бұрын
÷1.520=380=5756 🇺🇸
@wax4dadsglossking286 жыл бұрын
Thank you. Loved this info!
@realtopia24796 жыл бұрын
you're welcome. Glad you enjoyed it!
@MumaMiami7 ай бұрын
Should I have a contract notarized that states 51/49 partnership?
@olgasaldivar8543 Жыл бұрын
How can I get advice advice on partnerships with 2 more people (total of 3) how can I hire profesional advice before we open the business?
@bobfisher94523 жыл бұрын
Brett, I am currently looking at buying a partner out of our SDVOSB, I am the veteran w majority ownership. We have been in business since 2016, my partner is at a point of looking at retirement. We do have a buy sell agreement and have evaluated the worth of the company. My question is, do I consider value/or worth between owners? Being the Vet we have more contracts or revenue from government contracts than the civilian side of our business, I would say it’s 70/30 ratio. Unfortunately this was not decided in our buy sell agreement. Thanks your videos are very informative 👍
@katherinestudiokin109711 ай бұрын
Oh, I hope this is a simple question! My husbands partner had 51% with my husband having 49. Just them two, I was not included. However, the 51% owner took any and all money out of the bank account with zero notifications. There was no expense report to show where the money was going. He stated that he didn’t have to because he was 51%. This money included payroll money, money put away for taxes, money put away for expenses for the business . Is this true ? Could he leave a thriving business destitute because he wanted to use the money to open another business. We are in California.
@BrettCenkus10 ай бұрын
Katherine, Your husband's partner's actions are likely not okay. The starting point for analyzing these issues is the business' governing document(s), e.g., a Company Operating Agreement if it's an LLC. That agreement might allow his partner, as the 51% owner, to make decisions about using company funds for company business without your husband's approval/knowledge. That is possible, although I'd stop short of saying it's likely. However, the agreement would almost certainly not permit the 51% partner to use the funds for personal reasons. The wording necessary to justify taking funds and using them other than for the business would be atypical. If they do not have an agreement, how the funds are used is probably irrelevant, i.e., the 51% partner's actions are likely improper regardless (this depends on the type of entity, applicable governing authority (manager vs. managed), etc.). Ultimately, you'd want a California business attorney/litigator to look at the agreement and record of what happened. Still, I hope my info is of some help to you as you decide where to go from here. Brett
@thehydroflightshow6 жыл бұрын
great information
@CoachGomez-y6v Жыл бұрын
Can you be 49% on Paper, but be 50% in reality for most things??? thanks!
@BrettCenkus Жыл бұрын
What do you mean exactly by "in reality?" A wise 51% owner in a two-person business will take steps to ensure that their 49% co-owner feels heard and respected. IMO, not doing that is the biggest risk of the 51/49 ownership structure. However, if it's not on paper, it is based on trust and could change at any time.
@masoodrana94255 жыл бұрын
Thank you.
@BrettCenkus5 жыл бұрын
you're welcome!
@sucio1304 жыл бұрын
So I'm the 49% The other person used his lawyer for all the paperwork . I can't get in contact with that lawyer . How do I get a copy of my separation agreement?
@BrettCenkus4 жыл бұрын
Are you saying that you signed a separation agreement and asking how to get a copy of it? I don't have any ways other than through the attorney who prepared it or your former business partner (the other party who signed it)
@sucio1304 жыл бұрын
@@BrettCenkus that's exactly what I mean....Jesus im screwed 😪 We sign the paperwork with his lawyer ( business lawyer )
@BrettCenkus4 жыл бұрын
@@sucio130 Does the lawyer have colleagues you can contact? It shouldn't be too though to get a hold of that attorney to send you a copy of an agreement you signed.
@amine31936 жыл бұрын
Thank you for the information. But if the 51 owner decides to shutdown the business, can he do it?
@BrettCenkus6 жыл бұрын
Amine, first look at any governance documents (e.g., Bylaws, Stockholders' Agreement, LLC Operating Agreement). If those exist, they should address the question. If they don't, the default state "corporate" law will decide it. Generally, the 51% owner can shut down the business (in the states I've seen), although consult the governance docs or the actual state code (in Texas, it is the Business Organizations Code, in Delaware it's the Delaware General Corporation Law or the Delaware Limited Liability Company Act, etc.)