What is the name of your state (only U.S. law)? Missouri
We have 3 partners. One who has 15% ownership is a non-working partner
I own 25% and work full time at the business. Last year I invested $150,000 for 25% ownership.
The other partner owns 60% and works about 20 hours a week in the business.
can the partner with 60% ownership bring on additional partners with investment capital that will reduce my % of ownership without my approval? The additional capital will not increase the value of the business if we were to sell the business.
I have been drawing $2,000 per month from the business. The partner with 60% draws about $3,000 per month. Can the 60% partner stop paying me the $2,000 and change the locks on the door without giving me a key?What is the name of your state (only U.S. law)?
We have 3 partners. One who has 15% ownership is a non-working partner
I own 25% and work full time at the business. Last year I invested $150,000 for 25% ownership.
The other partner owns 60% and works about 20 hours a week in the business.
can the partner with 60% ownership bring on additional partners with investment capital that will reduce my % of ownership without my approval? The additional capital will not increase the value of the business if we were to sell the business.
I have been drawing $2,000 per month from the business. The partner with 60% draws about $3,000 per month. Can the 60% partner stop paying me the $2,000 and change the locks on the door without giving me a key?What is the name of your state (only U.S. law)?