richard_smith237 Posted February 13, 2009 Share Posted February 13, 2009 Say, for example, you reached an oral agreement (confirmed in writing) relating to a business opportunity, whereby he provided the investment whilst you were providing the expertise.Then. 1) You spent over a hundred hours planning the business, drawing up business plans etc. 2) He received copies of everything, including new company email address (formed by you)! 3) He authorised spending on a particular software package, 14,000 Baht, (was to be 50/50) but now will not pay. 4) He authorised expenditure upon a particular item (35,000 Baht) but then would NOT PAY! 5) Now states that he has changed his mind and does not wish to honour the agreement. 6) "Bigs" himself up as the NUMBER ONE ferang in his city (I don't think so)! My feeling is to treat him in no way differently to the way that I would treat him "at home". I would add that he still continues to authorise (order) spending on other areas of the same project! Thoughts please. Apologies if I am wrong on this one.... It appears to me as if this is a very one way street. Did the 'Money' actually agree to anything other than the occasional Oral yes ? It has occurred to me that often people with a great idea approach the 'money' and suggest that they put forward the venture capital for some return. Often the people with the great idea can be so emotional about their idea that the only way to get a break from them is to say yes without really having any intention of honoring the verbal agreement. Equally so, those with the money have the power and are often known to 'rip off' the ideas of others... Before we comment on a worthy cause of action... Can we be sure which one of these we are dealing with ? Link to comment Share on other sites More sharing options...
haybilly Posted February 13, 2009 Share Posted February 13, 2009 I would name him. Please send his name to me in a PM if you don't post it here. I might do later. At this point, though, I think it is better to be none specific as he may not be a member of the forum. He, also, may not appreciate the 20,000 Baht solution, offered by a local! I would prefer to not, even, consider it! Tempting as these things often are---the Thai 20K 'solution' is never a realistic option, unless you are Thai-- it's your karma! Link to comment Share on other sites More sharing options...
futureexpat Posted February 13, 2009 Share Posted February 13, 2009 I would name him. Please send his name to me in a PM if you don't post it here. I might do later. At this point, though, I think it is better to be none specific as he may not be a member of the forum. He, also, may not appreciate the 20,000 Baht solution, offered by a local! I would prefer to not, even, consider it! Tempting as these things often are---the Thai 20K 'solution' is never a realistic option, unless you are Thai-- it's your karma! He's already made a number of mistakes but if he's serious, this would be his biggest mistake. Even if he's not serious, the investor (or someone that the investor has told his side of the story to) may read this and... Link to comment Share on other sites More sharing options...
geeky Posted February 13, 2009 Share Posted February 13, 2009 out smart him; assuming the idea is good; find a new partner, turn it in a success and laugh with him for many years to come ... PM me .... Link to comment Share on other sites More sharing options...
Orac Posted February 13, 2009 Share Posted February 13, 2009 I can't help but feel I am missing something here. The money involved so far seems pretty small and you appear to have control still over the idea and having spent so much time planning could you not just find another investor. Surely better to know now that your investor hasn't the b**ls for this venture than when there is far more at stake. To be even discussing the 20,000 Baht solution seems a ridiculous overreaction. If you want to go down the naming and shaming route I think you should provide a few more details as to the nature of the business arrangements as I would be very wary about giving advice as you have requested on the limited details available - I would view a fall out between two potential pattaya beer bar owners very differently from two businessmen setting up a factory together to export textiles for example and cannot identify this from your posts apart from the point that you haven't responded on the WP issues that have been mentioned. Link to comment Share on other sites More sharing options...
BSJ Posted February 13, 2009 Share Posted February 13, 2009 (edited) "Show Me The Money!" is the first thing you needed to say. It's your fault...accept that and move on. PS: I am not trying to be mean....but it is your fault! Edited February 13, 2009 by BSJ Link to comment Share on other sites More sharing options...
Sisaketmike Posted February 13, 2009 Share Posted February 13, 2009 Say, for example, you reached an oral agreement (confirmed in writing) relating to a business opportunity, whereby he provided the investment whilst you were providing the expertise.Then. 1) You spent over a hundred hours planning the business, drawing up business plans etc. 2) He received copies of everything, including new company email address (formed by you)! 3) He authorised spending on a particular software package, 14,000 Baht, (was to be 50/50) but now will not pay. 4) He authorised expenditure upon a particular item (35,000 Baht) but then would NOT PAY! 5) Now states that he has changed his mind and does not wish to honour the agreement. 6) "Bigs" himself up as the NUMBER ONE ferang in his city (I don't think so)! My feeling is to treat him in no way differently to the way that I would treat him "at home". I would add that he still continues to authorise (order) spending on other areas of the same project! Thoughts please. I'm very sorry that people like you post 'stories' like that in this forum......what would you do? What would you do, if you'd think before you're trying to do business with somebody? You wasted 100 hours, I wasted 2 minutes to write that. Will you pay me for that too? Link to comment Share on other sites More sharing options...
dave9988 Posted February 13, 2009 Share Posted February 13, 2009 I am starting a business currently in Thailand 50% Thai owned but will have nothing to do with the business, just paying the costs and letting me do the work. Technically its a partnership for the time being, but other than money he won't have anything to do with my business. sounds like you are abusing the laws. if he screws you over, realize you risked it yourself. Link to comment Share on other sites More sharing options...
khundon Posted February 13, 2009 Share Posted February 13, 2009 Say, for example, you reached an oral agreement (confirmed in writing) relating to a business opportunity, whereby he provided the investment whilst you were providing the expertise.Then. 1) You spent over a hundred hours planning the business, drawing up business plans etc. 2) He received copies of everything, including new company email address (formed by you)! 3) He authorised spending on a particular software package, 14,000 Baht, (was to be 50/50) but now will not pay. 4) He authorised expenditure upon a particular item (35,000 Baht) but then would NOT PAY! 5) Now states that he has changed his mind and does not wish to honour the agreement. 6) "Bigs" himself up as the NUMBER ONE ferang in his city (I don't think so)! My feeling is to treat him in no way differently to the way that I would treat him "at home". I would add that he still continues to authorise (order) spending on other areas of the same project! Thoughts please. I have 2 golden rules for when starting a business Rule 1. Never go into business with anyone else. Rule 2. Never go into business with anybody else. If you remember these two rules you will be fine If you forget either of them you will lose money. Link to comment Share on other sites More sharing options...
ukrules Posted February 13, 2009 Share Posted February 13, 2009 If you remember these two rules you will be fine If you forget either of them you will lose money. So you're saying that it is impossible to make any money by working with other people ? Link to comment Share on other sites More sharing options...
thaiwanderer Posted February 13, 2009 Share Posted February 13, 2009 (edited) 1. don't be so stupid in the first place 2. if stupid, grow a pair of balls 3. if stupid and gutless, post about it on TV Edited February 13, 2009 by thaiwanderer Link to comment Share on other sites More sharing options...
juniorboysown Posted February 14, 2009 Share Posted February 14, 2009 (edited) If you remember these two rules you will be fine If you forget either of them you will lose money. So you're saying that it is impossible to make any money by working with other people ? It's very hard to have 2 boss's that will always agree without one wanting to kill the other one when/if things go wrong. MONEY turns people EVIL! One wants A the other wants B one wants to turn left the other right, <deleted>$@ that make your own decisions, today's friends tomorrows enemies. NEVER A MORE TRUE SAYING! Edited February 14, 2009 by juniorboysown Link to comment Share on other sites More sharing options...
Ave88 Posted February 14, 2009 Share Posted February 14, 2009 Say, for example, you reached an oral agreement (confirmed in writing) relating to a business opportunity, whereby he provided the investment whilst you were providing the expertise.Then. 1) You spent over a hundred hours planning the business, drawing up business plans etc. 2) He received copies of everything, including new company email address (formed by you)! 3) He authorised spending on a particular software package, 14,000 Baht, (was to be 50/50) but now will not pay. 4) He authorised expenditure upon a particular item (35,000 Baht) but then would NOT PAY! 5) Now states that he has changed his mind and does not wish to honour the agreement. 6) "Bigs" himself up as the NUMBER ONE ferang in his city (I don't think so)! My feeling is to treat him in no way differently to the way that I would treat him "at home". I would add that he still continues to authorise (order) spending on other areas of the same project! Thoughts please. Seems very nieve of you. Foreigner's here in Thailand are chancer's, where are you based? Bet the Foreigner is working illegaly here in Thailand, bet you are also, so no synpathy with either of you. Link to comment Share on other sites More sharing options...
JimsKnight Posted February 14, 2009 Share Posted February 14, 2009 Seen this too many times before. The new guys come to Thailand and get burnt by some snake-oil salesman who vibes he's the master of making money. Some more than others. Been there, done that, got the T-Shirt and bounced back again! Ask yourself this question, if these 'genuis' farang who claim this and that are so good, why are they in Thailand? The next Richard Branson? I don't think so. Lesson learned, never again. Same for you, experience is a harsh teacher, she gives the test first and the lesson afterwards. Link to comment Share on other sites More sharing options...
Tedhead Posted February 14, 2009 Share Posted February 14, 2009 I read the original post, read the comments, and then had to go back to read the OP again. And I still can't make much sense of it. You have a partnership. He's still in the partnership, as he's still making expenditures on it. There are some expenditures he doesn't agree with and refuses to pay for. About right? So here are a few thoughts to be getting on with. If you put equal money into a joint account and require that all cheques are co-signed, then all expenditures will be paid for by both parties, by common agreement. If you haven't gotten a company account, it's not a partnership. If it's not a partnership in any meaningful sense, then you can run the business yourself. Is there an office or retail premises? Who has the keys? There is so much information missing, it makes any kind of meaningful analysis impossible, reducing everything to guesswork. For all anyone knows, the OP is making foolish purchases and the (quasi) partner is right. Link to comment Share on other sites More sharing options...
john b good Posted February 14, 2009 Share Posted February 14, 2009 Say, for example, you reached an oral agreement (confirmed in writing) relating to a business opportunity, whereby he provided the investment whilst you were providing the expertise.Then. 1) You spent over a hundred hours planning the business, drawing up business plans etc. 2) He received copies of everything, including new company email address (formed by you)! 3) He authorised spending on a particular software package, 14,000 Baht, (was to be 50/50) but now will not pay. 4) He authorised expenditure upon a particular item (35,000 Baht) but then would NOT PAY! 5) Now states that he has changed his mind and does not wish to honour the agreement. 6) "Bigs" himself up as the NUMBER ONE ferang in his city (I don't think so)! My feeling is to treat him in no way differently to the way that I would treat him "at home". I would add that he still continues to authorise (order) spending on other areas of the same project! Thoughts please. Best to trust no one in Thailand. Do not trust a Thai in a business deal and certainly do not trust a farang in a business deal. That way you get to keep your money and your sanity. Link to comment Share on other sites More sharing options...
BigSnake Posted February 14, 2009 Share Posted February 14, 2009 Make a split with this dude asap, seek some legal advice since you have a verbal CONFIRM in writing, do NOW my friend this guy could authrozied something you don't want or need yet you will libel for. Link to comment Share on other sites More sharing options...
mahtin Posted February 14, 2009 Share Posted February 14, 2009 The Don is in Bangkok now. He has a solution for this kind of problem. Link to comment Share on other sites More sharing options...
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