Partnership failed
This is a discussion on Partnership failed within the Business Contracts & Partnerships forum, part of the BUSINESS & FINANCE LAW category; I have been in a small business partnership for almost 2 years now and the relationship has begun to fail. ...
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#1 |
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I have been in a small business partnership for almost 2 years now and the relationship has begun to fail. My partner has been "running the show" since day 1. It definatly has not been an equal partnership and I am done being her "employee". I told her today that I'm not going through another year with her treating me like this and I want out. I said she could either buy me out or we need to sell and her response was that neither was going to happen and that I just need to deal with it the way it is. What can I do? I saved her from losing the store 2 years ago and I invested a lot of money. I am not walking away with nothing. She has mentioned before that she would just shut down the store and take her half of the inventory and sell it some other way instead of giving me any money back. Please help!!!!
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#2 |
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Top Level Member
Join Date: Feb 2007
Posts: 802
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If two or more owners or partners cannot agree on what to do with a corporation or any other property, they may petition the court and the court will order a sale or refinancing etc. so that the one or more may get out of the corporation and/or the other(s) may keep it etc.--it is often done-- (This is true in some cases even for equitable owners that have paid various amounts etc., but for various reasons, may not be listed as an owner or shareholder.) You could threaten to take this action if need be. It may cause compromise which is of course what you need here now.
Also check your corporate papers for any agreed dissolution procedures that may already exist. World Law's lawyers could also probably intervene and help resolve this if need be. You may email them on the home page. |
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