Can one partner take away my paying job?
Buffalo, NY
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Posted 6 months ago in Limited Liability Company (LLC)
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I own 30 % of a business my partner owns 70. I was being paid to run the business an admin salary for the last two years. She decided she wanted to have her loser boyfriend take over some of my duties and eventually "decided" to give him my entire paycheck. Is this legally her descion to make because she owns more?
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Answers (1)L. Maxwell Taylor
This attorney is licensed in California and 1 other state.
Posted 6 months ago.
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She can force you out of the game, but at the end of the day she is going to have to give you fair value for your interest in the business. If she doesn't want to play the game with you anymore, so to speak, you can take your ball and go home.
I suggest you consult a lawyer who holds New York licensure to listen to the facts of your circumstance in detail and to advise you on your rights in respect of the dissolution of the partnership. (I assume it's a partnership because you call her your "partner." If it's a corporation, you are a minority shareholder.) Whether it's a partnership or a corporation, the law gives you all kinds of rights, and a New York-licensed lawyer will need to tell you about them. I am not that lawyer because I'm not licensed in New York. What I said above isn't legal advice, it's general information based on general principles of law which is intended to educate. Good luck. |