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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118175
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I own 20% of an small California corporation. I am currently

Customer Question

I own 20% of an small California corporation. I am currently unemployed and I want to go back to work at this corporation. What are my rights in case my partner (CEO) doesn't like the idea?
Submitted: 8 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 8 years ago.
Just because you are an owner does not inherently give you rights to work there absent something in the corporate bylaws granting those rights to the shareholders. Thus, the party in control of the company or board of directors would have a say regarding whether or not you can work there. As a 20% owner you would likely be out voted on the idea if the bylaws call for a vote of the shareholders.

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Law Educator, Esq. and 4 other Business Law Specialists are ready to help you
Customer: replied 8 years ago.
Any suggestion ?
Expert:  Law Educator, Esq. replied 8 years ago.
Play nice to the CEO. Other than that, you have no recourse since you are a minority owner. There is no legal action you can bring to force them to let you work there.
Customer: replied 8 years ago.
Expert:  Law Educator, Esq. replied 8 years ago.
You are welcome. Thank you.