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Is it a partnership?

Hi
I need a few opinions my husband is in a dj business with his sister and brother n law they told him its a partnership and a family business they bought all the equipment they didn't tell my husband to buy anything really but a few minor things but they said that its still a partnership even though now when they set up appointments it must go through his sister because she is suppose to be the Secretary and all she does is make the appointments no carrying heavy equipment, djing and he cannot give no prices or deals to anyone but they can to whoever did them a favor he doesnot know what is discussed when it comes to pricing all he knows what music to play and when appointments are made he told last minute every decisions is made with the sister and her husband if money is collected it must be given to them before my husband gets his part and the money is split three ways instead of two my husband is thinking about branching out on his own but does not know how to tell them this without tension in the family we don't know how to separate and keep it ok. No it's not incoparated yet it will be this year. 
IS THIS A PARTNERSHIP?

Answer Question
 
mizzcjlj4

Asked by mizzcjlj4 at 12:09 PM on Dec. 24, 2012 in Money & Work

Level 7 (173 Credits)
Answers (7)
  • What does the paperwork say when the business was registered? If the business is not registered, I would tell your husband to back out now and cut all losses. You can get into huge legal trouble for not registering a business the proper way. 

    JeremysMom

    Answer by JeremysMom at 12:13 PM on Dec. 24, 2012

  • i saw deviding 3 ways seems fair if everyone is working equally as hard! but as far a branching off good luck cause compition will probably make more tension than actually leaving! but if you dont want to seperate but want more involvement just have a conversation and tell them yu want to be included more and have meetings with all 3 before any decisions or prices are decided on! stick up for yourself as it is your business as well!
    futurebabykar

    Answer by futurebabykar at 12:13 PM on Dec. 24, 2012

  • It's nothing unless it's Incorporated or on paper in some way legally. He should start his own business.

    ILovemyPaulie

    Answer by ILovemyPaulie at 12:17 PM on Dec. 24, 2012

  • No, it doesn't seem like a partnership. Does he have any liability if something goes wrong? Does he pay for anything? Did he have to give them money to be a part of it? It sounds more like they are treating him as an employee. Do they have business meetings where they discuss financials and marketing? If so, is he included in those meetings?
    QuinnMae

    Answer by QuinnMae at 12:17 PM on Dec. 24, 2012

  • Why does the secretary get 1/3?
    feralxat

    Answer by feralxat at 12:19 PM on Dec. 24, 2012

  • It's NOTHING if there's no legal paperwork. They need a business attorney to draw it up.
    gdiamante

    Answer by gdiamante at 5:57 PM on Dec. 24, 2012

  • Is there a partnership agreement in existence? If not, then no.
    tasches

    Answer by tasches at 7:29 PM on Dec. 28, 2012

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