Business investment question

Bilius

Hi folks, I need to make business investment, I partnered up online with someone who seems to be a genuine person. Still I need to take precautions. Its around 4k. How can I be sure I don't get screwed over? PayPal?

Aegis

Bilius wrote: »

Hi folks, I need to make business investment, I partnered up online with someone who seems to be a genuine person. Still I need to take precautions. Its around 4k. How can I be sure I don't get screwed over? PayPal?

If you send the money to a "business partner" you find online, chances are that if they're not entirely honest you will lose your money with no means of getting it back. Going via Paypal will make no difference, as they won't be a seller and you therefore won't have buyer protection.


Always seek legal advice before entering into a business partnership, and only ever do it if you trust your potential partner.

Zanderman

Bilius wrote: »

Hi folks, I need to make business investment, I partnered up online with someone who seems to be a genuine person. Still I need to take precautions. Its around 4k. How can I be sure I don't get screwed over? PayPal?

You can't be sure you won't be 'screwed over' in this context. Payment protection only applies (generally speaking) to products. Just investing with 'someone who seems to be a genuine person' almost certainly won't qualify.

I'd be making sure they definitely were a 'genuine person' and making sure the business investment was genuine, and appropriate to your risk appetite too, before parting with any money.

Especially if it's someone I 'partnered up online'.

Basically, if you have any doubts at all (and it sounds as if you do - or should do), don't do it.

Edi81

Need?
Sounds like !!!8216;I want to throw my money away!!!8217;
What type of return is the person offering? If it sounds too good it probably is.
Can you afford to lose £4K?

dealer_wins

Sounds like naivety in the extreme.

tacpot12

The only way to avoid getting screwed over is to use your 4K to buy the stuff they are going to buy for the business. Then it is yours and you will have receipts to prove it.

You should have a legal agreement with your business partner, if only to make sure that you don't end up liable for everything.

Alexland

On what little you have said this sounds like a possible scam. The best way to protect you money is to not get involved.

Engineer87

I need to make business investment

Says who?

I partnered up online with someone who seems to be a genuine person.

Why do you suspect that? You don't mention you've ever met them so you don't prove any foundation to your initial thought

Still I need to take precautions.

Correct

Its around 4k. How can I be sure I don't get screwed over? PayPal?

Don't get involved with it simply. You might as well put it on England to win the world cup (you'll have more chance of seeing your money again!!)