If I am 25% owner of the company that I am running but have not seen the paperwork to make it official, does that mean that I have nothing right now?

Get Legal Help Today

 Secured with SHA-256 Encryption

If I am 25% owner of the company that I am running but have not seen the paperwork to make it official, does that mean that I have nothing right now?

I have been running this business for about a year and the paperwork has not been filed yet. I am becoming suspicious of the intent of my partners. I only have a written agreement stating that I have 25% and that is it. If things were to stop now am I still untitled to my 25% of the company? And how would I go about retaining my 25%?

Asked on August 8, 2012 under Business Law, Pennsylvania

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

When you say that you a "written agreement" do you mean a partnership agreement?  That is a binding contract so that is a really good start here.  What other "paperwork" do you mean here?  I would take the agreement to an attorney to review and discuss the matter in great detail.  Good luck.    


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption