My bf %26amp; I started a small business that's been rapidly growing however he's the worst business partner ever. He cancels appointments, lets everything in the world come first %26amp; if we have an argument will bring that up in the middle of a client presentation! He blows the $$ the minute we get it,doesn't lift a finger to help but if something goes wrong immediately blames me. I'm sick of it. We're not doing so well relationship wise either b/c he just seems super immature, selfish and completely unappreciative most of the time I don't want my business to fail b/c he's an ***. The business name is registered under him and the business license is under his social(all of which I set up) Since I'm a co-owner can I just let the business license under his name expire then renew it under my own? Also can I change the business owners name to mine? I handle all that stuff %26amp; we're both owners I just want it all in my name in case he decides to bail out.
How can I become the legal owner of my bfs sole proprietorship?
He would have to transfer the business license to you or may require you to get a new one. The sole proprietorship set-up as you described would require you to register a dba and assume/start a new business license. Has there been a Fed. Tax # assigned? A State Tax #?
How is it set up with you as a co-owner? It doesn't sound like you %26quot;legally%26quot; are, even though you are in practice.
If your business is rapidly growing and you are doing most, if not all the work, you need to cut loose now. Dragging it out will cost you quite a bit in the long run. Especially if you are not showing as a legal part of it anywhere.
Let me know if I can help any more.
