What to do if I own 20% of a business and the other partner brought on his wife to do basically my duties as managing the business on a daily basis?
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What to do if I own 20% of a business and the other partner brought on his wife to do basically my duties as managing the business on a daily basis?
The other partner is an S-corp. Do I have a say as to what she can and can’t do and what he can make me go along with? By the way, she is not a part of the corporation or does not hold a title or job in the corporation.
Asked on August 19, 2013 under Business Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
Absent an employment agreement between you two setting forth the scope of your duties with respect to your employment, owning a 20 % stake in the business does not automatically allow you a guaranteed position within it. I suggest that given the troubles that you have with your business partner that you consult with a business attorney as to what your recourse is in resolving the dispute.
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