Legal Question in Business Law in Florida

Hi there I hope you can help me. My question is; you have 3 partners, all with equal shares in the company. They do not have any type of contract. Two of the partners open another company (of the same type) without telling the third partner. The partners that opened the new company, is going to take all the business away from the third partner. Is there anything the third partner can do legally?


Asked on 10/16/10, 9:07 pm

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will say more information is needed before this question can be answered. What markets and customers do the two companies address? Are you talking about just shareholders (who have more freedom to do whatever they want in most cases) or officers (who have a fiduciary duty)? A complete review of all facts, documents, etc. as well as a personal consultation is appropriate, given these circumstances. Consult with a good business attorney in your area for specific advice.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 10/22/10, 7:40 am


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