2006-09-20 06:06:42 · 17 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
It depends on how the two of you will work it out. If you think you will be able to handle your business differences maturely, then by all means enter into a partnership with your boyfriend.
However, it is IMPORTANT to have a buy-sell agreement in the event that your partner leaves (leaves you, leaves your business or both) or dies.
A buy-sell agreement is a binding contract between the partners that defines:
1) What events will trigger a buyout,
2) the price that is to be paid for the disassociating partner's interest in the business, and
3) who can buy the dis-associating partner's interest (e.g. outsiders vs. other partners in the business).
It is best to have documentation and agreements that can protect you (and his) interest in the business. If you have no buy-sell agreement, typically state laws about partnerships apply. And this may not always be good for you or what you want to happen.
If your boyfriend/partner leaves, for example, this may result an automatic dissolution of the partnership and forced distribution of assets and profits. If your boyfriend dies, becomes incapacitated or marries another, you might unwillingly inherit the partner's spouse (or ex-spouse) as your new partner in the business. Likewise, if a partner decides to sell his interest to an outsider, you could end up having to share your business with a stranger.
Protect yourself. Take off your rose colored glasses and take steps to protect your interests in the business. You just never know what will happen. I'm sure you wouldn't want a situation where you end up holding an empty bag
2006-09-20 06:18:02 · answer #1 · answered by imisidro 7 · 12⤊ 0⤋
To go into business of any type with a friend or a boyfriend is a very risky undertaking.
Never go into business with a partner that you are close to. unless you are married and even then you could wind up in trouble.
If you do decide to go into business with your BF, make sure that you have everything you do in a partnership contract, written by a Lawyer.
There may be a time when your passions change for one reason or another and you will be stuck in an embarrassing position.
It is risky at best. Your contract should contain a mutual "By out" clause in great detail.
2006-09-20 06:13:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Nope.
Sure if you have everything all spelled out in a contract ahead of time, you might be able to handle situations in the future. But seldom people are able to foresee everything that might happen in the future, it is practically impossible to cover all the bases.
If you ended up in a court for judgment, judges are not very sympathetic of this type of situation and it is not unusual for court to side with male member of an agreement.
Although some people had made it work, most people are not able to completely separate their personal feelings from businesses, and the two often interfering each other.
Relationship itself is challenging enough. Why throw another wrinkle into the mix.
2006-09-20 06:09:07 · answer #3 · answered by JQT 6 · 0⤊ 0⤋
NO, NO, HELL NO, there are many things that can go wrong.
1. You can marry him, then this becomes a big nightmare making a marriage and a business work is difficult.
2. You can break up with him, then you're stuck with this business arrangement and someone that you can't be with.
3. The pressure of business can destroy your relationship.
4. The pressure of a relationship can destroy your business.
5. You can get too horny and screw when you should be working
6. You can get too business orientated and forget to screw when you need each other.
2006-09-20 07:12:35 · answer #4 · answered by Bruce L 1 · 0⤊ 0⤋
I'm not going to say yes or no, but will say it's very difficult. It would be too easy to let personal differences get in the way of business decisions. Plus, people need time to be away from one another, and if you live with the person, and work with them as well, the strain is especially tough.
It could happen, but it would take two extraordinarily mature and loving people to be able to pull it off.
2006-09-20 06:18:51 · answer #5 · answered by Zzyzzxzzyx 2 · 0⤊ 0⤋
I do not like to mix business with relationships. Just a bad idea. I care about my girlfriend too much to sacrifice our relationship over making money.
2006-09-20 06:10:38 · answer #6 · answered by Anonymous · 1⤊ 0⤋
I think it depends on how stable you are in your relationship, and realistically how well you could separate personal and business issues. Generally I would say not a good idea...but it could be done!
2006-09-20 06:14:29 · answer #7 · answered by Beth 3 · 0⤊ 0⤋
It depends on how mature you are in this situation. I don't see why its not possible. Also can help if you see yourself with this person for quite sometime. Good luck!
2006-09-20 06:15:19 · answer #8 · answered by luvz2luv_ya 2 · 0⤊ 0⤋
No. Emotional involvement effects business decisions.
If you did not doubt, you would not have asked.
2006-09-20 06:11:01 · answer #9 · answered by Anonymous · 0⤊ 0⤋
could be good and/or bad.....
if you two split up it would be really bad, but if you are a good couple and work problems out together it would be a great thing
2006-09-20 06:17:27 · answer #10 · answered by polarbaby 5 · 0⤊ 0⤋