Legal Question in Business Law in Ohio

can one partner remove anothers name on licenses and such

My question is this ,I recently seperated from a buisness venture with a partner . when i left the buisness i only removed my name from the bank account to reassure him i wouldnt ruin him.as for the vendors license and lease along with buisness accounts i never removed myself frome those. do i still have any rights to this company , he has told me that he already has a new tax id and vendors license along with the other accounts . i left with only a check for $1000.00 and my personal belongings , to allow him to stay in buisness untill he could afford to buy me out . if anyone can help please let me know , id hate to waste the past 18 months for a lousy $1000 bucks, thanks ,Jason


Asked on 12/31/01, 9:02 pm

2 Answers from Attorneys
Joseph Jacobs Jacobs & Lowder

Re: can one partner remove anothers name on licenses and such

You probably still have an interest depending on what your agreements were at the beginning.

Is there anything in writing as to those agreements?

What do you think the business is worth now?

Call me directly?

Joe Jacobs

216-227-0900

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Answered on 1/02/02, 3:55 pm
Gregg Manes Gregg A. Manes, Esq.

Re: can one partner remove anothers name on licenses and such

Dear Jason:

You probabaly have some ownership interest in the business. I presume that the venture was not incorporated. One must look to the value of the business and see if there is unjust enrichment.

Good Luck!!

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Answered on 1/06/02, 2:27 pm


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