Legal Question in Business Law in Colorado
Fire a Partner
I currently own 20% in a company. My partner who owns 51% just came in and told me I was fired. But we have sold share for the rest of the % and 66% do not agree with this. Can I be fired?
1 Answer from Attorneys
Re: Fire a Partner
Morning,
Sorry about the problem. It is unclear if this company is a partnership, an LLC or a corporation. Regardless of the form, you should have a written agreement. If so, review that or, better yet, provide to an attorney for review.
As a general matter, whether you can be fired depends on your employment relationship with this company. Generally, unless you have a contract, employment is at-will and you can be terminated or leave at-will. It really depends on your relationship and the exact authority of the person who fired you.
Even assuming you could be fired, that does not eliminate your rights in this venture.
I would strongly recommend you contact an attorney to review the facts and any written agreements.
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