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?


Asked on 2/15/07, 12:43 am

1 Answer from Attorneys

Robert Murillo Pivotal Legal Ltd.

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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Answered on 2/15/07, 8:55 am


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