The Problems With Silent Partners - And The Threat of Business Partnership Disputes

Unfortunately entrepreneurial flair is not the only thing required in the start up of a new business! Obviously a capital is also required, this is where many people find themselves turning to relationships with silent partners.

Having a business partner who will invest in your idea and leave you to get on with it may seem like a dream come true, but this is never the case. People with money to invest didn't come by it by accident - they will be a shrewd investor who will expect their investment to make money for them.

To avoid partnership disputes with a silent partner, everyone involved must be clear about where they stand from the outset -and that involves getting the right legal advice and the right legal documentation at an early stage. Responsibilities and duties should be clearly defined, so that any misunderstandings which may occur later and lead to a partnership dispute can be avoided. Both parties will have clear objectives. The silent partner is not just a Father Christmas figure, and will want to see that their investment is managed properly. At the same time, the other partner will need to make sure that they have sufficient funds to start the business on a professional footing and have a surplus to see them through slow trading periods.

It must be understood at the outset that the silent partner will be just that, and the daily running of the business will be left to the partner who has the skills to make the business work and grow.

These points, and many others, should be discussed to avoid partnership disputes. The investor, or silent partner, will need to be assured that his or her capital investment is being managed in a professional manner, and will show a profit. The other partner will also need to make the business grow, so that they can make a living wage and satisfy the silent partner's investment.

All partners should look the big picture: a bad month or a bad week may be just that, and this may have nothing to do with the overall state of the business. If any partnership disputes do arise, all partners should discuss them together. For the right needle advice, talk to a specialist business law solicitor, to resolve any partnership disputes, which may lead to a partnership dissolution and the end of the business -not to mention the end of the dream which everyone involved had at the beginning. Impartial legal advice costs less than proceeding without it.

Are you in need of a Salisbury legal advice on your partnership dispute? Contact Bonallack & Bishop - Salisbury Solicitors specialising in advice on business partnership disputes.

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Problems Being Faced by NRI's in Respect of Their Property in India

After purchase of immovable property they find either title of the property from whom they said is purchased is not clear or the property /land purchased is already mortgaged or given on lease to somebody else. As such, NRI's should make proper enquiry/ search revenue record either personally or through some reliable legal firm to know the status of the property before purchase.
Sometimes, NRI's find that the Seller was not authorized to sell the property purchased by them and the Seller has sold the property on the basis of fake Power of Attorney. NRI's should normally try to avoid purchase of property from Attorney Holders and if unavoidable, should make sure that the Power of Attorney is genuine and is properly registered and stamped by the Registration Authorities.
Some NRI's give their Agricultural Land on lease to their Relatives or Friends for cultivation in their absence but on return from foreign country they find it difficult to get back their land due to dishonesty of their Relatives or friends. NRI's should, therefore, given their Agricultural land on lease under proper Agreement duly drafted and vetted by some reputed legal firm/lawyer having adequate knowledge of Indian Revenue Laws and conversant with its Rules, regulations and procedures.
Similarly, NRI's also face problem in respect of Residential or Commercial Property given on Rent for non-payment of rent by tenants, undesirable changes or alterations made in the premises thereby undermining the utility of the premises and taking back the possessions of the said premises for their personal necessity/use. NRI's are, therefore, advised to give their residential or commercial premises on lease/ rent under proper agreement duly drafted by knowledgeable lawyer/legal firm. Periodical collection of rent /supervision by their legal attorney/lawyer shall help to mitigate this problem.
Some NRI's leave their properties uncared and on their return find that the same have been encroached/ taken possession of by somebody else. NRI's should, therefore, never leave their properties uncared /unattended. However, in case of such an eventuality, NRI's should immediately engage some good lawyer/legal firm and authorize him to take remedial steps /file civil/criminal cases against the encroacher as your lawyer may deem fit so as to take back the possession of the property.
Some NRI's give Power of Attorney or authorize their known persons to look after their property or collect rents in their absence and on return they find that their Power of Attorney has been improperly utilized by the Attorney Holder and their property has been transferred in somebody else's favor. As such, NRI's should normally avoid giving Power of Attorney and if unavoidable, get the same drafted from some good lawyer/legal firm.

Article Source: http://EzineArticles.com/?expert=Mansi_K_Sabharwal

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