​Co-Owner of 10 years is a liability.

My business partner, who is a lifetime friend and has been a fine partner for most of ten years, has recently been embarrassing the brand in public, driving out clients, begrudgingly attending his responsibilities, and looking for excuses to pull money out of the business during a period when we are not profitable.

What do I do to help align his behavior and interests with the company he co-owns?

What do I do if I have to protect the business from his participation?