Last updated: 

As an entrepreneur, I am discreet with money. What can I do if my business partner defraud me?

I inherit my family's business along with our family name. We are the owner of the leading company in industrial hardware. But then a friend of mine decided to buy shares from my company and it is almost half of all our assets. But then he also decided to ran away with it and take away almost half of my family's wealth.

User comments

  • user image

    No Name

    First is to seek assistance to a lawyer and debt collector. You must conduct a profiling of your business partner and file a civil claim in the court. It follows the normal civil litigation process represented by your lawyer.  You lawyer will usually profile your debtor to determine your chances of getting your money back and the best strategy of doing so. He should also advise on the economic viability of proceeding with the cases. He also will file a letter of demand then the cost of your case will depend on the compexity of your case.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

How to reduce shopping cart abandonment?

What are the types of companies in Singapore?

How do I protect my business from ransomware?

Would a virtual office reduce my business cost?

Small and Medium Enterprises are going virtual. I want to increase my productivity by going virtual however I'm not sure if this would lower my cost. I also want to decrease my overheads. Would having a virtual office reduce my business costs and if it does how would it reduce my business costs? Would it be more efficient?

What are the biggest internet trends?

What are the best financing and accounting apps for SmartPhones ?