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Equal partner locked me out of business. We have 2 stores…

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Equal partner locked me...

Equal partner locked me out of business. We have 2 stores and he is leveraging me when I should be entitle to half or liquidate

Lawyer's Assistant: What state are you in? And have you consulted a local attorney?

Ohio. I have it seems that I'm doing the work though.

Lawyer's Assistant: Has anything been officially filed? If so, what?

Nothing. We started negotiation to get buyout. However it's not a fair offer. Then tried to get one of the stores. It's complex. Our original business attorney acted on his behalf in repping him. Which is a separate case all together based on ethics when we are 50/50. Secondly my partner has been in control of the book the entire time and is still doing business. Further he has started his own side projects with company money without my consent. Frankly he is embezzling and now trying to push me out. Or have me essentially buy his debt

Submitted: 11 months ago.Category: Business Law
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Answered in 5 minutes by:
9/19/2017
Business Lawyer: Infolawyer, Attorney replied 11 months ago
Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 2,055
Experience: Experienced lawyer
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Hello and welcome. I am working on your answer and will be right back!

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Business Lawyer: Infolawyer, Attorney replied 11 months ago

Normally when a partner is seeking to take control and wrongly lock out a partner, the other partner has 2 options.

1. have a lawyer send a letter warning of the misconduct and threaten legal action.

2. file an action in state court seeking a TRO, injunction, and court intervention.

Martindale.com is a good resource. Often the result is the parties negotiate a settlment, including but not limited a sale to one partner, or a sale of the business.

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Business Lawyer: Infolawyer, Attorney replied 11 months ago
Please let me know if the reply is acceptable by responding "yes" or "acceptable"
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Business Lawyer: Infolawyer, Attorney replied 11 months ago
if I can elaborate on anything, just ask me. Awaiting your reply, thank you!
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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