Before you go into business with someone, pay for a private detective to follow them around for two ( 2 ! ) weeks to find out who they are really sleeping with, who their real friends are, where they spend their time, are they true to their families and spouses, do they gamble excessively (your judgement on what is excessive), etc.
I once had a business partner who,
1. Cheated on his wife,
2. Drank to excess,
3. Was in an affair with a younger woman from work,
4. and then also started a second company behind our backs with his friends and started to undercut our prices and gave them all our plans and dreams.
... We learned a lot, and he
1. Got divorced, and lost his kids to his ex-wife.
2. Lost his primary job becaue of his affair and drinking,
3. the ghost company went broke,
4. and then sought revenge and got himself in trouble with the local police and
5. got his brother involved in the revenge and he too got fired for improper activites.
6. also, got fired from a future employer for lying on the job application after about 6 months and used the same lawyer from his divorce to fight that case.
He lost that case, too.
Long story that takes about 2 hours to tell in full, and I learned a lot about corporate governance, about finding the right lawyer..
Get an old country lawyer who has seen all, done all, and knows all the tricks around the courts and corporations.
Bottom line... Get a good old lawyer and listen to him/her. They are worth more than their weight in gold.
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