Me and my business partner, have an LLC corporation, with each of us having a 50/50 split....we have no agreement between us
3 attorney answers
It is always less expensive and more efficient to seek legal advice when you are starting a company than when you have a dispute that would have been prevented.
This situations can get tricky and messy very quickly. If they cannot be resolved informally, then a lawsuit may be necessary. Talk to a local business lawyer.
I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific situation. I strongly encourage you to consult with a local lawyer to get legal advice and help with your specific situation at your earliest convenience. I am licensed to practice law in Arizona.
There are several areas about which you must be careful. The new LLC statute in Florida, chapter 605, allows the member who is not requesting a dissolution, to offer to purchase the interest of the member requesting dissolution. If the court ultimately rules on the value of your interest, you may not like it--but may be bound to accept it.
Also as a member, you have certain duties to the other member which you may breach with tactics intended to force your partner to buy your interest. I suggest you retain legal counsel to assist you in adopting a strategy that does not subject you to liability or a mandated price.