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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Good morning i have a question as to a Equity Partner. an

Resolved Question:

Good morning

i have a question as to a Equity Partner.

an equity partner (who only comes to a directors meeting) that owns 35% of the business and is selling her share of the business to the other 2 partners who actively built the business does the out going equity partner get a share of the good will or not??

Curt
Submitted: 3 years ago.
Category: Finance
Expert:  Megan C replied 3 years ago.

MyVirtualCPA : Thank you for your question and thanks for using JustAnswer
MyVirtualCPA : No, in this situation the goodwill stays with the company
Customer:

is this common practice?

MyVirtualCPA : yes this is common practice
Customer:

in aussie

MyVirtualCPA : Yes in australia
Customer:

thanks is there any law books that we can go to and look it up

MyVirtualCPA : I don't have a link to a source.
Customer:

thanks

Megan C and other Finance Specialists are ready to help you
Expert:  Megan C replied 3 years ago.
Thank you, Curt for your positive rating. Please come back and visit us any time you have a finance question. It was a pleasure working with you today.