[OldRich]

I've got some business proposition recently, but confused about something.

If you own 40% of the company and you have two other business partner both own 30%. Does this mean you're majority shareholder? do you have control of the company if you own the most share but not at 51%?

[Virtus]

unless both of them want to do something you do not. then they would win

[damngringo]

Commonly control is 50% + 1 share, under UK law some changes require 75% majority. It is possible to create provisions of different voting rights though, so you could distribute income 40-30-30, but would have the majority shareholding (if they agree)

[thegmanifesto]

Do you know the only kind of ship that always sinks?

It's called a partnerShip.

[OldRich]

(12-20-2012 11:52 AM)thegmanifesto Wrote:  

Do you know the only kind of ship that always sinks?

It's called a partnerShip.

That's so cool, did you made that up yourself?

Seriously, if you're gonna say something like that. Please do elaborate.

[Beyond Borders]

(12-20-2012 11:52 AM)thegmanifesto Wrote:  

Do you know the only kind of ship that always sinks?

It's called a partnerShip.

haha corny, but well said...

[Hooligan Harry]

(12-20-2012 09:19 AM)OldRich Wrote:  

I've got some business proposition recently, but confused about something.

If you own 40% of the company and you have two other business partner both own 30%. Does this mean you're majority shareholder? do you have control of the company if you own the most share but not at 51%?

You are the majority shareholder, but you dont have control of the company if you dont have more than 50% of it. So if the other two decide that they have had enough of you, you have a few problems coming your way.

G - You cant fund any substantial business without partners. Just the rule of law I am afraid.

[thegmanifesto]

(12-20-2012 08:49 PM)Hooligan Harry Wrote:  

(12-20-2012 09:19 AM)OldRich Wrote:  

I've got some business proposition recently, but confused about something.

If you own 40% of the company and you have two other business partner both own 30%. Does this mean you're majority shareholder? do you have control of the company if you own the most share but not at 51%?

You are the majority shareholder, but you dont have control of the company if you dont have more than 50% of it. So if the other two decide that they have had enough of you, you have a few problems coming your way.

G - You cant fund any substantial business without partners. Just the rule of law I am afraid.

I was kind of making a joke.

I got you, although "substantial business" is relative right?

I am not trying to create the next Twitter.

[Hooligan Harry]

(12-20-2012 11:07 PM)thegmanifesto Wrote:  

(12-20-2012 08:49 PM)Hooligan Harry Wrote:  

(12-20-2012 09:19 AM)OldRich Wrote:  

I've got some business proposition recently, but confused about something.

If you own 40% of the company and you have two other business partner both own 30%. Does this mean you're majority shareholder? do you have control of the company if you own the most share but not at 51%?

You are the majority shareholder, but you dont have control of the company if you dont have more than 50% of it. So if the other two decide that they have had enough of you, you have a few problems coming your way.

G - You cant fund any substantial business without partners. Just the rule of law I am afraid.

I was kind of making a joke.

I got you, although "substantial business" is relative right?

I am not trying to create the next Twitter.

Lol, no I know and I actually agree with you.

If you have got a partner involved in your franchise, store front or online store, good night sweet prince. The divorce is coming soon.

If you are talking about a business that needed to raise money, well those fuckers always want their cut. There is just no way around it

[DVY]

@ harry hooligan and g manifesto- how do u appropriate partners w minor equity say 20%or do u keep it all Salary or commission

[Nineteen84]

Ownership is everything. Felix Denis bangs on about this in his book:

Quote:

On the Importance of Ownership—“Never, never, never, never hand over a single share of anything you have acquired or created if you can help it. Nothing. Not one share. To no one. No matter what the reason—unless you genuinely have to.”

[TheIndifferent]

The importance of choosing your partners carefully really cannot be overemphasized. It's like a marriage without any sex or love. Except for mutual desire for cash.

It should be noted that Dennis is not anti-partnerships in his book, although the equity point is a very good one. 50-50 partnerships are incredibly tough.

[OldRich]

Are you guys talking about "How to Get Rich" by Felix Denis? it looks like an interesting book. I might pick it up.

[TheIndifferent]

(12-21-2012 10:21 PM)OldRich Wrote:  

Are you guys talking about "How to Get Rich" by Felix Denis? it looks like an interesting book. I might pick it up.

Yes, that's the book we're referencing. It's worth a read.

[OldRich]

(12-22-2012 12:00 AM)TheIndifferent Wrote:  

(12-21-2012 10:21 PM)OldRich Wrote:  

Are you guys talking about "How to Get Rich" by Felix Denis? it looks like an interesting book. I might pick it up.

Yes, that's the book we're referencing. It's worth a read.

I think you guys just saved me a fortune. I read the book and what he said about owning everything really opens my eyes.

[DVY]

read the book. great read. solid guys!

[DVY]

what other good straight talk biz books did you guys like?