I am not licensed to practice law in your state.

These comments are made for educational purposes only and do not constitute legal advice. No attorney-client relationship exists between us.

You decide and should have done so before you formed the corporation. Now you are stuck with equal power and no mechanism to break a deadlock on any business decisions.

Generally, the officers of an Illinois corporation are elected by the Board of Directors. The Directors of the Corporation are elected by the shareholders, usually at an annual meeting. The rules for this are generally set forth in the Articles of Incorporation and by-laws of the corporation, as well as in pre or post incorporation agreements among the shareholders of the corporation.. You should consult with a competent business attorney, to make sure that your corporation has been properly formed and that appropriate actions and documentation have been or are created to reflect the organizational matters and future governance of the corporation.

Please note this answer to your question is general in nature only and does not constitute the rendering of legal advice, as by the nature of AVVO’s question and answer format, the question must be answered without full information as to your personal situation. You should further note that our answering this general question does not result in the establishment of any attorney-client relationship. You should take the time to consult with an attorney who can give you specific legal advice, after the opportunity to learn all of the facts about your current situation.