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

Orlando, FL Viewed 49 times. Posted 9 months ago in Business

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? - Is this your question? Add additional information

Answers (3)

David G. Weilbacher, Esq.

This attorney is licensed in Ohio. Posted 9 months ago.

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.

www.dgw-law.com

Kevin

Posted 9 months ago.

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.