Legal Question in Business Law in Delaware
Is it legal for a business partner to with hold the businesses financial information and tax filing from another partner? And how can the out of the loop partner go about finding out this information?
1 Answer from Attorneys
Generally "partners" have the right to an accounting. You did not, however, note whether this is a partnership, whether you are a member of a LLC or whether you are a shareholder of a corporation. Each one of these entities has different rules and standards. In addition, the right to an accounting could be governed by the bylaws/operating agreement/partnership agreement you may have.
Therefore, you need to see an attorney to assess your rights in the matter. Feel free to contact my office at your earliest convenience if you have any additional questions.
Roman R. Fichman, Esq.
www.TheLegalist.com │ @TheLegalist
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Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.
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