What should I know about having half ownership in a business?

Answer by  DevoutCatalyst (441)

All decisions will be 50:50, you must come to agreement. Any major decisions are just as much your call as the other person so stay involved. Don't take a back seat unless you're happy for your partner to run the show. Stay alert and visible, research and act appropriately.

Answer by  Chaneygirl (1755)

What type of entity do you own half of? What is your agreement with regard to income/losses? How are you paid? Is there a buy/sell agreement? What happens if one owner dies? Do you see regular financial statements? How is the business doing?

Answer by  Roland27 (16334)

The biggest thing people don't divulge is that you need to be in business with someone you trust. It is hard enough running a business, let alone with someone else.

Answer by  MattieA (13)

Having half ownership in a company could mean lots of things. The most vital factors to understand with ownership include: liabilities, your share of profits, and your terms of ownership.