Rules for Business Partner/s

[kiz_me1109]

Hello. I need your opinion and suggestions please.

This is not my first time to venture into a small business but this is my first time to have a Business Partner (who is a friend). I was supposed to put up a new small business of my own but because I have a day job and other small businesses to take care of, I think I cannot handle it anymore.

Until a friend of mine who is into (Big Businesses) already offered me a partnership. She opened a new venture which is related to their Business but it's a new concept. She offered a 70/30 partnership. Which means, she has the 70% of the share and 30% were mine.

I also, contributed 30% of the capital. She will provide me with a free training of the services that we offer. Kaming 2 kasi yung gagawa din ng services na yun.

I am also aware that since it is only the 2 of us, share kami with the works and everything. Now, my question is, do we have an equal right sa lahat? Kahit na 30% lang yung capital ko?

Like for example, sa books, how often do I check it and should I advise her first that I will go to our main office to check it? And paano ako makakasiguro na lahat ng services na dadating is being noted sa book?

Also, I read sa contract that after 1 year, If I decide not to extend / continue the partnership, the 30% capital that I shared will be returned.

Another thing is that, the Net Profit will also be 70/30 and will be released every quarter.

I really hope there will be someone who can give me tips, ideas and help here. Thank you.

[kolinetongue]

better start a business at your own.

mahirap may kahati, baka mawala ang friendship nyo.

well, i experienced same situation, i ended up withdrawing my shares and put up other negosyo. atleast, i saved our friendship.