By continuing you agree to eChinacities's Privacy Policy .
Sign up with Google
Sign up with Facebook
Q: what can i do if my business partner screws me up?
I am going to explain what happens to me five years ago, by the way sorry about my english hehe. Five years ago when i came to china i tried to do some business and import some olive oil from spain. I got a chinese partner and we signed a contract in law office, he told me this contract was fully legal and i owned 51 % of the company. After signing the contract going to the accounting conpany 财务公司, we set up the company invested the money and started to import olive oil, not much just a hundred boxes. After importing the olive oil, my partner wanted to sell the olive oil in every restaurant and shop, i didnt agree i told him the best way of selling is looking for distributors but my partner didnt agree. He didnt have any guanxi at restaurants so it was very tough. In the end i decided dont do it, i trusted the terms of the contract so i had the right to recieve 51% of the profits. In the end i didnt recieve anything, . Do you have any experience like that?
No experience like that, yet... (touch wood I won't)
As to your question what can you do? Learn from your experience and be careful about who you trust in the future.
Does it not depend on if there was a profit?
By the time you paid the fees to set the company up etc, I would think you would need to sell more than a hundred boxes to turn a profit.
And, if there was any profit, by your own admission it was your partner doing the legwork to sell the product.
It's a pity you did not keep your company ticking over. I reckon demand for olive oil now will be a lot bigger than it was 5 years ago. Maybe you should give it another go if you still have your seller in Spain 
Unfortunately, I would NEVER take on a Chinese partner.
There is like a 0.0001% chance you will run into one that is honest and has good integrity. Having partners is really tough in general as there are usually so many decision making differences. Having a Chinese partner usually (but not always) turns into an unspeakable nightmare.
Unfortunately I believe that in China the Chinese business partner always owns more percentage [stand corrected if needed] ie: they have the 51% whilst you have 49%. To find an honest and sincere business partner here in China falls it the category of 'high risk'. Personally not something I would entertain or give second thought too, not even open to debate. I would even go as far as saying the same applies to 'accountants'. Many so-called partners will be secretly hoping that your input, monetary and knowledge wise will help them get rich quick. Derogatory it may seem, however in many cases it would be true.
ScotsAlan:
And lets not forget that some of the fee paid to the "accountant" might find it's way into the partners back pocket.
lol rule 1 never partner up u will lose everything u never owned 51 percent he did say goodbye to your investment
Doing business with Chinese is a nightmare, locals didn't get rich because they are good business people but because they have an army of slaves and absolutely zero ethics or morals.
I never ever had any problem with my customers in other countries, were they from the EU, the US, Japan, Taiwan or else. In Mainland China they never pay upfront, they always find some BS excuse to delay the payment and even then they never stick to the later date we agreed with.
gouxiong:
It's funny. Yesterday I saw the discussion in the TV about what Walmart did in here - selling rotten products and bullying its employees. If it's really true so it almost indicates that old Chinese saying: 'All businesmen are evil' does not discriminate any of the businessmen nationality.
Cheers
frvioque:
Thank you, i dont need any other chinese helps me. You can look for customers in other forum!
sorrel:
Friendly suggestion because you seem to be new
don't promote any business in this section, unless you want to be banned
