Forums: Discussions for entrepreneurs and small business.

I have engaged in a partnership business with someone who i know and trust he is very talented guy and can do wonders if provided with finance therefore i thought of him and started business with 100% investment from me and will share 50% - 50% official partnership with him.

My question is since he is taking care of this business and he is involve in day to day activities should i allow him to take monthly salary and if he is taking salary + 50% profit sharing - should i be allow to take salary what he is taking everymonth

since we start this business with his idea & my money / if i not put money than we want be able to start this business and same if i not have him as my partner i want be able to start this business...

my question is should i take salary since i am not a working partner but have invested 100% in to this business ... any suggestion

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you dont need to work anyways you are considered as a silent partner

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sheetal joshi Ve assistant Business development head info@veassistant.com www.veassistant.com

I am not sure what your partnership agreement says.  I assume from your question this issue was not addressed in the agreement.  If not then you and your partner should discuss what you both feel is equitable and fair.  I suspect your partner won't want to work for very long without some sort of compensation but I don't know enough about the details of the business, the agreement or your plans to provide great advise.

 

 

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Linda Finkle, Incedo Group http://www.incedogroup.com/market-research