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If I am the sole monetary investor in a business, what am I entitled to should I choose to sell my share.

I have invested the money, my partner the sweat equity. Our agreement is to split profits 50/50. As of yet we have made no profit, should I decide to pull out what am I entitled to? Can all pull all the money out effectively ending the business or am I entitled to only half now, even though I contributed all of it?

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Attorney answers (2)

Reputation Level 15
It's not clear based on the information you have provided. Is this a partnership, a corporation, and LLC? Is there a written agreement or document detailing the rights, restrictions and/or obligations of you and your partner?

Disclaimer: I am not offering legal advice, assume I do not know the law in your state and that I am just making suggestions for starting points for when you do speak with an attorney. Do NOT rely on anything I write and contact a lawyer in your area immediately after reading my posting.

Reputation Level 19
An attorney might be able to broker some sort of buy out agreement before you pull out unilaterally.

Other answers (1)

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Kevin

Thank you for your response. We are an LLC and the only agreement is the splint on profits. I know I am not entitled to my entire initial investment, I took the risk and knew it might not work out. I am not greedy and trying to get all I can either, just trying to figure out my legal rights.

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