How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110585
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

I have a business I own 50% my partner ownes the other 50.

This answer was rated:

I have a business I own 50% my partner ownes the other 50. If I want to leave the company and he wants to keep it does he have to give me half of what the companies assets are? there are a few pieces of equipment and some material that can be sold and some cash in the bank.
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

I am afraid that when there are equal partners in a business, if they have no partnership/membership agreement that states how a partner will be bought out from the business, one partner leaving does not automatically get 1/2 of everything in every case. The assets and debts of the business have to be examined and an net value of the business must be determined. Once the net value is determined (assets minus debts and liabilities) then the leaving partner would be entitled to the 50% share of that net worth of the business on a buy out.

Thank you so much for using I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered. PLEASE use REPLY to EXPERT if you would like more information or if you feel something was not included in your answer.

Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO RECEIVE ANY CREDIT, if not the site keeps your money on deposit.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.


There can also be a delay of an hour or more in between my answers because I may be taking a break.

You can always request me through my profile at or beginning your question with “For PaulMJD…”

Customer: replied 3 years ago.

ok and if the other half of this partnership wanted to keep the business for himself or bring in another partner would he or whoever he brought in as the new partner buy my 50%?

Thank you for your follow up.

If the other owner wants to bring someone else in, then it is up to the other party buying in and the other owner as to what this person would have to pay to buy into the business and the value of that interests. This is why you have to put a net value on the business to determine what your share should be.
Customer: replied 3 years ago.

Thank you

thank you. Please do not forget to click on excellent service feedback as that is the only way the expert is compensated for spending time with you.
Law Educator, Esq. and 5 other Business Law Specialists are ready to help you

Related Business Law Questions