I went into a partnership with a friend and his father and was told I would be part owner. I would have a 1/4 ownership in the company. Yet I still have no documents stating this and have no access to any company documents or accounts. All I have is the paper that was written up when I started with them stating that I have 1/4 ownership and that I am the VP of said company.Thank you
Country relating to Question: United States
State (if USA): Georgia
Good afternoon. It would be beneficial to you if you forced them to draft a partnership agreement spelling out all the terms and conditions of the partnership. If there is no partnership agreement, then the partnership is going to be governed by the Georgia partnership act, which will spell out the rights and obligations of partners. I don't know how long you were supposed to be an owner, but you should have been designated as an owner on the partnership tax returns. If not, then it's time to force the issue and if they do not comply, sue them based on your paper agreement.
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