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 do I start a business?

What are the cyber threats that businesses overlook?

How to set-up a mobile office?

What are the biggest internet trends?

Is it bad for my business if I rely too much on technology?

Should I make a mobile app for my business?