Three Things to do When Your Business Partner is Stealing From You

If you have recently set up your business, there might be nothing more shocking than finding out that your business partner might be stealing from you. An act of betrayal from someone you trusted your finances and assets with can be an extremely hard and emotionally challenging experience to deal with.

That said, it is essential to have your attorney ready who is skilled in criminal offences. Furthermore, it is equally essential to remain calm, present-minded and not let your anger and rage take over. If you master to keep your head above turbulent water while dealing with such matters, you are more likely to recover all potential damages.

The FTC (Federal Trade Commission) tracks slight increases in fraudulent business complaints every year. That said, life isn’t a fair game. Therefore, it is essential to have a plan B with you for everything, especially for matters related to your business. The below-give list includes some essential tips on how one can deal with theft within one’s business. Read on to learn more!

Make a Detailed Report

If you suspect your business partner of potential wrongdoing, you cannot waste time pondering over what to do next, instead of wasting time and getting frustrated, set yourself to work and start documenting everything.

Suppose you have detected missing money for unknown reasons. You need to make a report of all financial payables and receivables. The more strong and solid your documentation work is, the better you can protect your business from financial fraud.

In case of already occurring financial theft, it is mandatory to keep a report on when and how much money went missing.

Pile up Evidence

Remember that you have to thoroughly investigate all matters before forming an accusation against your business partner. In other words, without solid proof, you cannot point your finger in anyone’s direction. If you do so, it only makes you look like a fool, and a bully, who knows no better.

You need to pile up substantial evidence before taking the matter to court. Don’t act like the short-tempered boss who is infamous for losing their temperament first while asking questions later.

Call Your Lawyer

Suppose your paperwork, business solution software tracks, and detailed paperwork indicate that your business partner is playing fraudulent games right under your nose. It is time to call your attorney and discuss the matter with them before involving anyone else, such as the police.

As a legal expert, the attorney will know everything related to such matters. Hence, they are in the best position to provide you with valuable advice on when to file a lawsuit against your business partner. The attorney will also provide you with the best options on what you could do next in the given situation.

After determining the type of business fraud, your attorney will also help you decide how to effectively negotiate the matter with your (soon-to-be-ex) business partner. By legally dissolving a fraudulent business partnership, your chances increase enormously for the recovery of your stolen money and assets.

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