Legal Question in Business Law in Illinois

Partner rights

I was approched three years ago by two friends of mine to come and work with them, the agreement was to come as a partner and after 5 years the business was to be mine with them getting a percentage of the businees that was already in place when they where working. Since then they have made some poor business decisions. Bottom line they want me to find another job whlie they build off of the business I brought to them. I have plenty of witnesses that they have told about our agreement but nothing in writing. Is ther anything I could do to get somekind of componsation? Thanks


Asked on 3/04/03, 3:56 pm

1 Answer from Attorneys
Kenneth J. Ashman Ashman Law Offices, LLC

Re: Partner rights

A situation as you describe -- seemingly an oral partnership agreement -- is quite fact-specific. To evaluate it properly, it would take a review of all relevant documentation, speaking with you and (probably) your witnesses. Only then can an informed opinion as to whether you have valid claims exist.

-- Kenneth J. Ashman; www.AshmanLawOffices.com

This communication is for informational purposes only and is not intended to create an attorney-client relationship, which, under the policies of Ashman Law Offices, LLC, can only be created by a execution of a formal retention agreement.

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Answered on 3/08/03, 4:40 pm


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