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Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 6846
Experience:  30+ yrs. representing small business, real estate, probate
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My partner has been doing work and not telling me just did a

Customer Question

My partner has been doing work and not telling me just did a 32,000 job and had someone help him open another bank account to hide the money I have 50 percent of the company. What to do?
Submitted: 1 year ago.
Category: Business Law
Expert:  Irwin Law replied 1 year ago.

It would appear that a conference between you, partner, a CPA/Lawyer type is called for now. The question is: how long as this been going on and how much does he own the company. A partner has a fiduciary duty to the partnership, which it appears he has breached. A partner cannot do business (of the same type) outside the partnership for his own benefit. Definitely read this article on the subject before your meeting:

http://www.nolo.com/legal-encyclopedia/fiduciary-duties-partnerships.html

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