Legal Question in Business Law in Michigan
LLC voting shares
I am 25% owner of an employment recruiting company. My partners (2) are 37.5% each. How do I protect myself from being fired or cut out of the business. I have heard a voting share set up may do it . I am doing most of the work as well as responsible for a low interest loan from a Native American grant. Also I have signed a letter of no compete , can I get out of it and do the business myself?
Thank You in advance.
1 Answer from Attorneys
Re: LLC voting shares
It sounds like you have a lot more going on than worrying about your partners stiffing you, --it sounds like you want to get out of the business. These were issues that SHOULD have been resolved before you went into business in a minority capacity (no pun intended). You need to get expert legal advice on business dissolution from a local attorney.
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