I own 12% of a very lucrative company, the majority partner now says that I do not have any ownership.

Asked about 2 years ago - Sacramento, CA

The majority partner will not give me any info on the company.

Attorney answers (6)

  1. Justin C. Lowenthal

    Contributor Level 14

    11

    Lawyers agree

    1

    Answered . As much as I enjoy helping clients resolve matters just like this, responding to your question (statement) is impossible. What sort of business entity is the company? Why do you believe you own 12%? Did you make a capital investment in the company? Do you have share certificates? These are all questions an attorney will need to ask you before they can help you understand your rights. Feel free to give my office a call if you would like to have a meaningful discussion about this matter.

    To schedule an appointment for an attorney-client privileged consultation, contact me at 530-231-4949. This... more
  2. Michael Raymond Daymude

    Contributor Level 20

    9

    Lawyers agree

    Answered . You have not asked a question and therefore it is impossible for anyone to respond in a helpful way. However, it appears from your statements that you and another person disagree regarding your interest in a company. If so, you need to pay for and retain counsel if you wish to assert your claim. Good luck.

    I am licensed in California only and my answers on Avvo assume California law. Answers provided by me are for... more
  3. Guy Irvin Wade III

    Contributor Level 14

    9

    Lawyers agree

    Answered . You need to consult with a business dispute lawyer in the Sacramento area to provide many more details about your situation if you want some real advice. Two lawyers from that area have responded to you and invited you to call them. Call one or both of them today. Good luck.

    I am not your lawyer and an answer on AVVO is not intended as legal advice but is provided for general... more
  4. Deborah Barron

    Contributor Level 12

    7

    Lawyers agree

    Answered . It is difficult to provide any advice without more information. Do you own shares in the company? Is it an oral agreement or written? Is the company a corporation? Please contact me to discuss further.

    Barron Law Corporation Sacramento and San Francisco. 916-486-1712 or 800-529-5908. No attorney client... more
  5. Michael Charles Doland

    Contributor Level 20

    7

    Lawyers agree

    Answered . I am handling a case like this right now. You need to see a business litigator immediately. You need to prepare a written summary of all your facts and whatever written documentation you have supporting your claim. I am in favor of using "local" attorneys to you and Avvo has a lot of very fine business litigators to choose from .

    The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may... more
  6. Craig Trent Byrnes

    Pro

    Contributor Level 15

    3

    Lawyers agree

    Answered . As I think many of my colleagues are pointing out, the main issue will be one of proof. Ownership of a percentage of a company, if it is privately held, does not require any formal documentation. I recently won a case in which a privately held company failed to tender to its former COO his 6% equity interest in the company. These are complicated cases that require a high level of expertise in which to succeed.

    Since you have such a large share of the company, I'm assuming it's privately held. If it's publicly traded, other rules apply as well.

    If the majority partner has told you that you don't have any ownership, and you believe you do, there are actions you can take. Among them is filing a claim for declaratory judgment based on anticipatory breach of contract. That means that, even though they haven't necessarily breached your contract yet, they've told you they're going to, and you want the court to declare that you are in fact an owner of a 12% equity interest.

    Take some time to put together the facts you will need to demonstrate your 12% interest. Good luck with however you decide to proceed.

    Sincerely,
    Craig T. Byrnes
    www.ctblawfirm.com

    Disclaimer: Please be aware that I am not offering legal advice, nor forming an attorney-client relationship with... more

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