ON MONDAY 7/23/07 MY PARTNER (SO CALLED FRIEND) CHANGED THE LOCKS ON OUR BUSINESS DOORS AND SENT ME AN EMAIL STATING I WAS NO LONGER ALLOWED TO COME INTO THE OFFICE. WE HAD RECENTLY BEEN WORKING ON SPLITTING OUR OWNERSHIP AND RUNNING 2 COMPANIES UNDER 1 ROOF (WE HAVE 2 DIFFERENT WAYS OF RUNNING THINGS AND BUMPED HEADS TOO MUCH). WHEN WE OPENED THE BUSINESS LAST YEAR (4/10/06) WE AGREED THAT EVERYTHING WOULD BE 50/50. THE BUSINESS CAN EASILY EXCEED 1 MILLION PER YEAR. TODAY SHE CALLED AND OFFERED TO BUY ME OUT AT THE REDICULOUS PRICE OF $5000.00 WHICH I AUTOMATICALLY LAUGHED AT. I THINK I'M GOING VERY LOW WHEN I EXPECT NO LESS THAN 50K (AND TO ME THAT'S NOT ENOUGH). SHE THINKS THAT YOU BUY A PARTNER OUT BY WHATS IN THE BANK ACCOUNT, AND BECAUSE WE DON'T HAVE THAT MUCH IN THE BANK RIGHT NOW (BECAUSE SHE WROTE OUT CHECKS MONDAY AND TOOK MONEY FROM THE ATM...BEFORE SHE GAVE ME THE CHECKBOOK & SHE HAS NOW PUT US IN A NEGATIVE BALANCE)SHE FEELS THAT 5000 IS SUFFICIANT. MY QUESTION IS....IF YOU OWNED A 50/50 PARTNERSHIP IN A COMPANY THAT WILL MAKE OVER A MILLION BY THE END OF THE YEAR, WHAT DO YOU THINK WOULD BE AN APPROPRIATE AMOUNT FOR ME TO SETTLE FOR? AND AM I CORRECT WHEN I SAY SHE "ILLEGALLY" LOCKED ME OUT - THAT I NEED TO KNOW FOR LEGAL PURPOSES...BELIEVE ME...LAWYER WILL BE INVOLVED.

Wow, it sounds as if things have certainly taken a turn for the worse between you and your business partner. Admittedly i'm not a expert on legal matters but common sense tells me that it is definitley not ok to change the locks without your knowledge. As far as the email goes i'd think she has no right telling you to stay away.

The best advice I can offer you is get yourself a good lawyer now. Don't wait as the longer you leave it the harder it will be to work things out. It already sounds very messy.

As far as putting a fair price on your business, that would be impossible to do without having further knowledge. Again, your lawyer is the best person to advise you on that matter. I will say though that $5000 sounds like a pathetic amount for a half share business that turnsover $1 million.

I hope you can get through this without to much hassle.

Good luck,

Tamara Lyster


Tamara Lyster Online
www.tamaralyster.net
A marketing concept for businesses focussed on health, wellness, personal development and human growth.

-Strategic Brand Development
-High Impact Business Writing
-OnDemand "Cost-Per-Query" Marketing

>Wow, it sounds as if things have certainly taken a turn for
>the worse between you and your business partner. Admittedly
>i'm not a expert on legal matters but common sense tells me
>that it is definitley not ok to change the locks without your
>knowledge. As far as the email goes i'd think she has no right
>telling you to stay away.
>
>The best advice I can offer you is get yourself a good lawyer
>now. Don't wait as the longer you leave it the harder it will
>be to work things out. It already sounds very messy.
>
>As far as putting a fair price on your business, that would be
>impossible to do without having further knowledge. Again, your
>lawyer is the best person to advise you on that matter. I will
>say though that $5000 sounds like a pathetic amount for a half
>share business that turnsover $1 million.
>
>I hope you can get through this without to much hassle.
>
>Good luck,
>
>Tamara Lyster
>
>
>Tamara Lyster Online
>www.tamaralyster.net
>A marketing concept for businesses focussed on health,
>wellness, personal development and human growth.
>
>-Strategic Brand Development
>-High Impact Business Writing
>-OnDemand "Cost-Per-Query" Marketing


I HAVE INFORMED HER THAT WE NEED TO HAVE THE SITUATION MEDIATED BEFORE WE GO THROUGH A LAWYER THAT WILL COST THOUSANDS OF DOLLARS.

Whatever happened with this?

Vinny Panico
CEO, NJ Tech Medics
http://www.NJTechMedics.com
We specialize in everything technological. We love partnering with new and small businesses to set them up with exactly what they need!