Legal Question in Business Law in Minnesota
I have 50% of a business and I have two partners each at 25%, can I fire one of the partners?
Asked on 11/03/11, 11:37 am
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Most likely you can "fire" them from employment, but you cannot "fire" them as Shareholders.
You need to buy them out. Do you have a Buy-Sell Agreement in place?
Shareholder Agreement?
It may be wise to consult an experienced Business Attorney ( me or someone like me.)
I am in Eden Prairie.
Answered on 11/03/11, 11:59 am
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