Partnership advice- Help!!!

execlusive08execlusive08 Posts: 1subscriber
edited September 2007 in Thought Leadership
Hello, start up nation I am a new member and in a situation where I need some advice. I started a new company with two other partners and formed a general partnership. The company was founded in June of 07 and the only people that have been working everyday up to this point have been me and one other partner. Now the third partner has a full time job and contributes sparingly. We have tried to convince the third partner to leave his job, and come aboard full time. He declined to do so. We have raised the possibility of  buying him out or reducing his equity in the company. He believes that :1) The day to day tasks that are performed by me and my partner are "grunt work " and these tasks should be taken cared of by hiring employees2) Myself and the other partner should follow him in getting full time or part time job, for the purpose of injecting small amounts of funds into the business  and  watch over the employees to  take care of the business and grow it since we are trying to create a system so the business can run itself.Notes:Our business is an IT consulting firm.The third partner possibly can get a promotion in his job.I believe that time is very important to us.The third member and second member are best friendsDo we  really need to get jobs ?Help me please if you can
execlusive082007-9-16 0:14:27
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