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Sent to Legal Experts August 04 09:30 AM

Myself and two others started an Ebay business 9 months ago. At first we did not have a business plan but after a few months agreed that one partner would do all the listing and accounting, one would find the product to sell, and one would do all the shipping. One of the items we had very good results with was an HP printer, we sold out of our supply in a few week and could not get anymore from our current supplier. The partner that is in charge of finding product found a new supplier that has the printers. He, the partner, feels it is OK for him to keep 50 to 70% of these printers and sell them for himself. He is not cutting the other partners, he will sell our company 30 to 50%. Please give me your opinion on the business ethics on this and if you feel it is a conflict of interest. Thank you for your time. bruce.runyan@runcogroup.com

Customer (name blocked for privacy)
Status:  Closed   Value: $10
Answer
August 4 9:37 AM (7 minutes and 8 seconds later)
         
ACCEPTEDCheck Mark

It certainly COULD be a conflict of interest. HOWEVER, unless there is a prohibition in the partnership agreement against that, it probably is not something that the other brothers can force him to stop. Many employment agreements and partnership agreements have specific language that would either allow or disallow this sort of situation. If you do not have a written partnership agreement or if it does not address this issue, he is most likely free to continue it.

jon@jonacpa.com



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August 4 12:52 PM (3 hours and 14 minutes and 29 seconds later)
         
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