Warning signs of an untrustworthy business partner

On Behalf of | Nov 1, 2020 | Business Litigation |

Many Maumee area residents own their own business. These businesses are extremely important to the local economy. Although when a person owns their own company, they are usually good about picking business partners to work with them. Typically, these are people who have worked with them for years and have had a large role within the company. But occasionally a business partner takes a turn for the worse and a business owner may wonder if there is trouble. There are some warning signs of an untrustworthy business partner.

They do not take responsibility

Business owners know that everyone makes mistakes. But if a business partner refuses to recognize that they have done something wrong or point the finger at everyone else before admitting fault it can be a sign that they are untrustworthy.

They are not good with money

When a business partner doesn’t agree about how the money should be spent it can be a red flag. They may want to spend money on frivolous items where a business owner is more practical. Not spending money well can mean they are making poor financial decisions for the company.

They treat others badly

If a business partner is rude to people, it can be a warning sign. If a business partner talks down or ignores others it is a sign of lack of empathy.

They have a history of short partnerships

If a business partner has a string of short-term relationships in other businesses, it can be a warning sign of things to come. A business owner may want to contact these other businesses to see what happened and if there is a warning story behind it.

An attorney who specializes in business litigation can help their client with their Maumee area business needs. Whether it be an unscrupulous business partner or a breach of contract or anything in between, an attorney has the experience necessary to make sure the business remains strong.


FindLaw Network