We mutually hired a law firm

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Another important piece of advice for aspiring entrepreneurs: study the legal foundations of business and your area, your field.

We worked 50/50, sharing expenses and income equally, as befits equal partners. The combination of LLC and sole proprietorship helped us develop well. At first, we needed cash, and it was very expensive to withdraw from LLC at 20% tax. During the first five years of the company's existence, the partner remained an inconspicuous figure for the company - not everyone even suspected of his existence.

Soon he began to understand that everything was working without him, and, probably wanting money and fame, some kind of recognition, he began to actively infiltrate the company. He began to show up at corporate parties and joint events - this was a smart move on his part, since the company at that time had already grown to such a scale that all operational activities were functioning without me. Much was invented and built to automatism, I just continued to think through the company's development strategies and set the direction of movement. It was no longer based on my personal brand, as before. And if before I was sure that it would not last without me, then by 2023-2024 it was no longer so.

Recently, my partner and I had disagreements that belgium email list to bother me, and I suggested formalizing and securing everything legally. We disagreed on the decisions I made. Arguments and misunderstandings began to arise, which subsequently interfered with the stable operation of the company. This was unusual for me. Accordingly, this affected the company's results.
Unfortunately, the disagreements became more and more frequent over the last year. Each time, the conversation about formalizing legally equivalent management of the company was postponed. I always found a compromise and justification for my partner, believing that everything would work out. Let me remind you that this was my sister's husband. But at the same time, I understood that I could lose the company that I had been building for so many years, and this scared me. We worked on trust, since we had close family ties, and, according to our agreements, the issue of equal formalization of all legal documents should have been resolved at any time.

So, in 2024, that was supposed to help resolve our disputes. My partner initially agreed to the terms of registration, but at the last moment he decided to refuse all agreements and exclude me from the company. But he did not stop there and continued to file lawsuits against me. So instead of a 50% share in the company, I received multi-million absurd lawsuits. Now I understand that if we had launched the process of legal registration, for example, two years ago, I would have been left without a company much earlier. This is the third piece of advice for aspiring entrepreneurs: trust your partners, but formalize and secure all your agreements legally and in writing at the very beginning, even if they are friends or relatives.