What are my rights when asked to relinquish ownership of my company by my business partner?
Question Details:
I am a 49% percent owner of a new business. There is no value other than a very small book of works. I will agree to said relinquishment as long a the company is dissolved completely and does not continue to operate under its present name. Is this a fair and reasonable condition for share relinquishment? What options should be considered in this matter?
Michael D. Siegel / Siegel & Siegel, P.C.
Answered 1 year ago
This attorney is licensed in New York
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Yes, your demand is not only fair, it is actually the cleanest way to do this.
