Thread: Partnerships?
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Old 04-03-2012, 04:17 PM   #5
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City: SF Bay Area
Vessel Model: Tollycraft 34' Tri Cabin
Join Date: Feb 2011
Posts: 12,552
Root word “part” of the word partnership is deceiving; in that “part” can mean “be of” or “remove from”. Therein lays the quandary when it comes to “ships”, which in the word partnership means the building of “parts” of a “ship” (in this case the word “ship” refers to a contract, written or spoken). In context, the “part” of a partnership that feels (or actually is) most in control may make life uneasy for the other “part”. So, not unlike the process of selling share of a business, to be the “part” who actually has control, it is good to have a firmly written contract and to not settle for less than 51% minimum ownership (in this case root word “owner” is very important in regard to sub word “ship”). That way your “part” is guaranteed for control of your ship (this time meaning your boat!). Good Luck!!
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