What is the name of your state (only U.S. law)? Minnesota
Urgent Help Needed!
I'm currently a equal 1/3 owner of an online tech company that has been around for more than 3 years. We do have a partnership agreement amongst the three of us. Recently (last 9 months) we've had one owner that has gone rogue and decided that he is going to do things his way and control the majority of the companies decisions. I'm at the point where I feel I need to get out before he runs this company into the ground and takes me and my family with it, or stay and deal with his demeaning, condescending and patronizing ways for the next 3-6 years until we finally make money. My questions is...I would like to review all of the company paperwork (partnership agreement, business plan, marketing plan, investor paperwork, financials, etc) in order to make an educated decision on (1) where this company is going currently and into the future, and (2) if it's smarter for me to get out while I can. The problem is, that partner will not share any of the previously stated paperwork (company paperwork). What are my options? If I do leave, do I have a right to anything? Thank You for your help!!
ps...Recently we've had to 'self' evaluate the company in order to show the value of our company to a potential investor...this number came directly from our rogue partner. Is this or is this not a correct way to evaluate the company? If so, am I entitled to my 1/3?
Do I have the right to sue, if he continues to withhold this information?
Thanks again!
Urgent Help Needed!
I'm currently a equal 1/3 owner of an online tech company that has been around for more than 3 years. We do have a partnership agreement amongst the three of us. Recently (last 9 months) we've had one owner that has gone rogue and decided that he is going to do things his way and control the majority of the companies decisions. I'm at the point where I feel I need to get out before he runs this company into the ground and takes me and my family with it, or stay and deal with his demeaning, condescending and patronizing ways for the next 3-6 years until we finally make money. My questions is...I would like to review all of the company paperwork (partnership agreement, business plan, marketing plan, investor paperwork, financials, etc) in order to make an educated decision on (1) where this company is going currently and into the future, and (2) if it's smarter for me to get out while I can. The problem is, that partner will not share any of the previously stated paperwork (company paperwork). What are my options? If I do leave, do I have a right to anything? Thank You for your help!!
ps...Recently we've had to 'self' evaluate the company in order to show the value of our company to a potential investor...this number came directly from our rogue partner. Is this or is this not a correct way to evaluate the company? If so, am I entitled to my 1/3?
Do I have the right to sue, if he continues to withhold this information?
Thanks again!
