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I own 50% of an incorporated company. My partner owns the…

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I own 50% of an...
I own 50% of an incorporated company. My partner owns the other 50%. We have been in business for 1 year and fully operational for 4 months. I am the CEO and he is the COO. We have both signed standard non-disclosure agreements with the company. Here's the problem I am having.
My partner feels it is okay to discuss with his friends what we are doing in the business and to seek advice from them. He feels there is no need to check with me first or to discuss the issues with me first. I have been in the awkward position of meeting a friend of his for the first time and the friend telling me what our priorities should be and where we should be directing our attention, short term and long term.
I feel my partner is violating our relationship as partners and violating his relationship with the company by not honouring the non-disclosure agreement. I have partially addressed the former issue with him as it relates to respecting me, my role in the company, and our relationship. He still feels he can go and talk to people as long as he isn't sharing vital documents with them which he was doing. Please let me know if I'm right in my assessment of the situation or if I'm way off base.
Thank you.
Submitted: 2 years ago.Category: Canada Law
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Answered in 2 minutes by:
1/23/2016
Lawyer: Debra, Lawyer replied 2 years ago
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 106,030
Experience: Lawyer
Verified

What specifically does your nondisclosure agreement say about discussing the business with others?

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Customer reply replied 2 years ago
I have attached our NDA.
Customer reply replied 2 years ago
Oops. I sent you 2 copies of the same file. It is pretty standard.
Lawyer: Debra, Lawyer replied 2 years ago

Your partner is breaching the agreement because he is disclosing non-public information and he may not do that unless you consent.

So you are entirely correct.

Let me know if you need further clarification.

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Customer reply replied 2 years ago
Thank you.
Lawyer: Debra, Lawyer replied 2 years ago

You are very welcome.

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