I owned 1/3 of a S-corp (online retailer) with 2 partners for a year, I am the main person w/ knowledge to run the company with no paid. One partner contributed little and the other one contributed nothing beside showing up at the meeting. We have small amount of sales, company in red.
I would like to withdraw myself from the company and I told them I will no longer putting additional investment to the company. Company currently has debt about $10000, I told them they can go ahead to invest and dilute my share or buy me out but it seems like they are dragging it with no response.
Is it legal to own 2 corps with same business model?
Can I withdraw myself from the corp without their approval even with debt?
Can I sue them for wages?
Negative effect to keep my name there?
ThxI am planning to start with my own company (Online retailer) in January 2014 We do not have any agreement whatsoever, it sounds like I can just quit it and restart fresh.