Legal Question in Business Law in Massachusetts

The short answer is probably not. First, you owe a duty to your minority shareholders or owners.

You do not state if you are a partnership, corporation or LLC. Absent an agreement or a cause that would otherwise give you the right to terminate a co-owner, there is case law in MA prohibting the termination of co-owners, shareholders or members. If you are a partnership and you have a partnership agreement, you may have a right to force the dissolution of the business and try to buy the assets of the business. If you have no partnership agreement, then you can seek a statutory dissolution.

Similar restrictions apply to corporations and LLC's. You may have control but you cannot just freeze the minority partners out of the company.

As the other attorney says, there are a number of factors involved. Is the entity a corporation, partnership or LLC? Are there shareholder agreements? Consult with an attorney in your area for specific advice.

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

Franchise Attorney