Dissolving a business partnership
Discussion
rowley birkin said:
Just to update this thread, my meeting with outgoing partner took place today but no final decision yet. He refused to suggest a figure for me to buy him out, placing the ball in my court, so I am e-mailing him a take-it-or-leave-it offer of £3.5k. If he declines then he gets nowt from me; I will then incur the additional hassle of setting up a new business, but at least I will be £3.5k better-off.
That's an unfortunate outcome & then perhaps worth considering what his line of thinking is.IMO With that kind of answer he's not looking at a "win-win" deal I'm afraid, he's only looking to maximise how much he can take off you & therefore whatever you offer he will assume you will then pay more. I would be inclined to go back by email & restate that its for him to suggest a figure otherwise your view is going to be that you can walk away & start again for really very little in practical terms. He will figure out that a bit of effort contacting clients & making them aware of what you are doing is really all that is needed.
Building a web site is cheap enough. The domain name is the more interesting thing, if it belongs to a company that then goes into liquidation you can apply to have it released & then buy it back again. If it was registered in your name well, then its yours to start with (same unfortunately if it was registered in his). No question that the domain authority it has is worth something - in fact its probably the most valuable asset you have in reality. You then have to sit down & figure out how much income you can generate without that domain name & its position in the Google rankings etc (because it could take you well over a year to build a new domain up to the same level). The difference between what you can do with and without it might give you an idea of its real value to you.
Edited by Wombat3 on Wednesday 7th December 22:56
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