| Nov. 20 2008 at 1:37 PM |
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I have a company I that I started about a year ago. I have 6 investors that are interested in the company. I have a very comprehensive business plan and an equity partner.
The problem: When I was a minor I was arrested and put in California Youth Authority for a homicide crime. I was released when I was 22. Because I was 14 when it happened I do not have a criminal record. I turned my life around and now have a wife and kids and a BA.
My partner is not aware of this and I am sure that if the investors do their due diligence
they may somehow find out about it. Should I inform my partner now and let him know? Should I assume that no one will find out and push forward?
My fear is that if I tell them about it they will not do business with me and I may even lose my business partner. I am not worried about how I will be judged, this is strictly about the success of my business which several investors have expressed interest in.
If I do tell them (which Im leaning towards, because its the honest thing to do), when is the right time?
Please give me your opinion on this matter.
Thanks,
Mike
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| Nov. 20 2008 at 6:00 PM |
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If this does not to be disclosed, then why bring it up? I lived on the streets at age 14 and would steal food to eat where I worked and eat it where no one would see, I would not tell people that just to tell them. I also was in a situation and was read my rights at age 17 and really didn't do anything but because I was there I could of been sent to jail so I lied and got out of it...but what good what that do telling people that. The past is the past and as you said you are in a different place. In a situation that you did something wrong and stole money from a company etc...that may be relevant. But I don't think what you are stating is. Hey in life some times we make choices that are not right and sometimes like in my case I did it out of survival. I am not saying what you did is okay, nor do I know exactly what you did but are you going to live the rest of your life putting that on your back? If they ask, then yes, you should be honest, otherwise keep it closed.
Erin
Edited by: stonesledge - Nov. 20 2008 at 6:07 PM Follow my adventures of business and life at Twitter!! Twitter.com/GirlswithGoals
President Fitspott.com... we swear we are launching soon! Founder GirlswithGoals.com.
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| Nov. 20 2008 at 6:30 PM |
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It shouldn't matter if you disclose it. Look at Bill Ayers, who likely
did a lot worse than you ever did in the past. Nobody cares. All you
have to do is be upfront about it, because if it worries YOU, then it's
going to affect your life, your happiness, and the way you feel about
being comfortable.
I've found, throughout my life, that I'd much rather be comfortable
that everyone I'm involved with knows what's what, and there aren't any
later-day surprises. I'd rather start off on the right foot, even if it
means someone chooses not go pursue a relationship of some kind. And
money relationships are hard enough, without introducing possible
future problems.
Craig Landes
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Defining the undefinable. "There are 10 kinds of people in the world---those who understand binary numbers and those who don't." - Unknown
International Society of Curmudgeons
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| Nov. 21 2008 at 10:59 AM |
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Since you were a minor when you got in trouble I would assume that your records are sealed, so it would be tough for anybody outside of law enforcement to find out about this. On the other hand, we all know how sloppy the government works at times, so I am not sure if I would rely on this. Have you thought about consulting an attorney?
Other than that I would agree with Craig. Everybody has a past and my feeling is that you should stand up for it. You obviously committed a homicide when you were a child and haven’t gotten in trouble ever since. As far as I am concerned you’d stand a far better chance I’d do business with you than someone who has a history of fraud or property crimes.
I’m also assuming that you know your partner’s character traits. Don’t you have a gut feeling how he’d react if you’d come clean?
I guess no matter how you slice and dice this, this will be tough call.
I hope this helps & good luck.
Mark
Nothing is as powerful as an idea whose time has come.
http://www.FastVentures.com
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| Nov. 21 2008 at 5:35 PM |
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If telling about your past is going to raise everyone up then consider it. If telling them you'll possibly be shun, consider it. We all have past discretion some moral, some legal, and some ethical. Who you are today is what you're asking someone to believe in. That to me is what I sell each time I speak to someone. Who I am, is who I am.
Good luck.
RAW
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| Nov. 22 2008 at 10:01 PM |
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This is just my opinion, probably doesn't help much but personally, if I were an investor or a partner, I would be damn impressed with your story. You took responsibility for what you did, paid your dues, and proceeded to pull yourself up from a place many people never do. I think it speaks volumes of your ability to make things happen and I would have even more confidence partnering with you in a business venture.
—paula 
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| Nov. 23 2008 at 1:13 PM |
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I would disclose it as from a legal standpoint, it more than likely will come up, unless you have had your records sealed in a legal proceeding. Sounds like your investors are great people and have put their faith in your business capabilities. I have seen and counseled more clients from a legal perspective on deals that have gone bad that clearly could have been avoiding early on. Once investors lose faith in the person and their credibility, it is extremely difficult, and a alot of times impossible, to regain the trust.
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| Dec. 02 2008 at 5:22 PM |
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I like the answers. I do not think you have to say anything. You turned your life around.
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