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Agreed. This is just silly. There is either a buy/sell agreement or there is not. If there is not, you can’t force your solution on the other founder.
by e40 5y ago
Agreed. This is just silly. There is either a buy/sell agreement or there is not. If there is not, you can’t force your solution on the other founder.
- nicwolff 5y agoIn fact you can. With no other formal agreement in place, any cooperative venture is an equally-owned "general partnership", and no partner can legally do anything to diminish another's ownership. And all business debts, however they are incurred, are shared equally too. Source: been there, twice. Now I keep a boilerplate partnership agreement form URL bookmarked on my phone...