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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110473
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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Wanted to ask you something about a parnership. What happens

Customer Question

Hi Simmons
Wanted to ask you something about a parnership. What happens when they are only two owners and the percentage is 60%/40% do I have to do what the one with more percentage says. Meaning he wants to run the business diferently then I do? And he told me since he has 60% I have to do what he says
Submitted: 1 month ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 month ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
It all depends on whatever partnership agreement you have in writing. Absent an agreement in writing, the partners have equal rights and authority to participate in managing the business. Generally, each partner has one, equal vote when matters need to be decided. Unless a managing partner is designated in an operating agreement, who would be responsible for day to day operations, both of the partners have equal management authority as well.
So, absent any written agreement to the contrary, you are both equal in the rights you have even though you share proceeds 60-40.

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