Thank you for your question. Please permit me to assist you with your concerns.What you are describing is ultimately going to potentially take litigation. You would need to properly evaluate the cost of the business, and figure out the actual value. This may require you to retain accountants, likely business accountants who can estimate the value of the business by calculating assets, debts, accounts receivable, and value of future benefits, projects, or good will. Then you would need to retain a corporate counsel to file suit in court for a formal request to 'partition' the business between the parties OR issue a right to sell the business so as to split the value of the sale between the parties in proportion to their interest. The written agreement you have can be the basis for the suit, if the other party is refusing to split losses, and permit you to separately file for breach of contract or for breach of fiduciary duty against the other owner in this instance.Hope that helps.
Rick,What specifically would you like me to expand upon? I do not mind further assisting you if I knew what you were looking for. But without reviewing your contract what I put forward is a summary of your steps. I can expand specifics, just please let me now what you want me to focus on first. Thank you.
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