Cofounder · Partnerships

What is the worst thing a cofounder has done to you?

Bogdan Mirkac Electronic engineer / business development manager

September 17th, 2016

The other day I was reading how 62% of companies fail due to cofounder problems. In this regard can you share what has been the worst thing that a cofounder has done to you? This could help some of us here to be more protected and perhaps avoid going through the same thing.
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Irwin Stein Very experienced (40 years) corporate,securities and real estate attorney.

September 17th, 2016

Partners have more difficulty when business is bad than when the money is rolling in. Every partnership needs a good agreement negotiated with the help of good lawyers because they will have clauses that will cover dissolution. Worst break-ups are when one one partner hits on another's  wife.  Second worst are when one partner steals. 

Richard Giraud President of RGENT Computing Corporation

September 17th, 2016

Irwin Stein nailed it: when money gets tight, things get ugly.  Someone on the inside (e.g., a business partner) can end up on the outside if things go badly enough.

My advice is to look for good people.  If a person is willing to go out of their way, even in small ways, for strangers and casual acquaintances, they are more likely to be behave better in bad times.

Joe Albano, PhD Using the business of entrepreneurialism to turn ideas into products and products into sustainable businesses.

September 17th, 2016

I'm curious - where did the 62% statistic come from? 

Bogdan Mirkac Electronic engineer / business development manager

September 18th, 2016

Thanks for all the advices and thoughts.
I am not sure I am allowed to share links here but here is the source: 
http://fundersandfounders.com/startup-dirty-laundry-conflicts-that-kill-partnerships/#nogo