Can a business partner be prosecuted for theft?

Your business partner is the individual or corporate entity who has a legally binding stake of ownership or a business contract with you. Therefore, if your business partner is caught stealing from the partnership, they can be prosecuted.

What to do if your business partner is stealing from you?

For example, taking money from an account that belongs to the business for personal or other use is both outside the scope of the relationship and against the interests of the business. What to do next if you suspect a business partner is stealing from you.

Can a business partner be charged with fraud and embezzlement?

The criminal offenses of fraud and embezzlement are strong bargaining chips to recover the lost money or property, and remove the individual from the company. Your attorney will guide you through the process of whether or not to file criminal charges, and manage the negotiations with your business partner or their attorney.

What happens if your business partner lies to you?

Your business partner lied, you believed and relied upon the lie and suffered losses or “damages” as a result of your business partner’s deceit. Your associate may be guilty of “embezzlement”, which is the theft of money or a business asset by a person in a position of trust within your company.

What happens when a partner or co-owner is stealing from?

The next step is to contact an experienced business and litigation attorney who can guide you through the process. The next step is to obtain real evidence that theft is occurring and to identify the person or persons involved. It is not prudent to simply accuse a partner or co-owner of stealing money from the business without solid evidence.

What happens if your business partner steals trade secrets?

When trade secrets or other types of intellectual property are taken without permission, and their use is not in the best interests of the company, this is considered misappropriation of trade secrets. Texas law provides remedies to businesses that can help them take civil legal action.

What to do when a customer accuses an employee of theft?

Ask the employee to acknowledge the conversation and sign the written record. Two managers should be present during the interview. Make operational changes if necessary – If many customers complain about the same thing, not always involving the same employee, review and change operations and procedures.