Legal Question in Business Law in New Jersey

Partner problems

I have a 50% share in a consulting firm w/ a partner he has the other 50%. It is a LLC we have no agreements we have worked on trust. We have been in business for 10years. The first yr I quit my job and worked for no pay while he continued to work. I have used all my contacts and resource to get work he was to take care of production. We have lost almost all clients because he doesn't do his end. He fights over expense as little as 25cents. Our accountant set up an expense account and at year end when I am to get a check he makes every excuse to stop it. He recently is trying to do business on the side using the company name,I found out by chance. I want out and want to know what I am entitled to-I have brought in over 99% of the customers. I am located in Rutherford NJ. Also what are the legal costs to this. Thank you.


Asked on 10/01/08, 1:07 pm

3 Answers from Attorneys
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: Partner problems

This public web site is NOT a good forum to discuss your matter!

You need to contact a good business attorney immediately!

I hope this helps!

Ron Cappuccio

http://www.BusinessEsq.com

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Answered on 10/01/08, 10:37 pm
Daniel Pepper Pepper Law Group, LLC

Re: Partner problems

You're in a tough spot without an operating agreement between the two of you. Without one, you are left to rely upon verbal agreements, past correspondence, and other circumstantial evidence to prove something more than 50% of the value of the LLC.

Tough to say what the legal fees will be for this, since much will depend upon how your partner responds to your demands. In my experience, most of these types of disputes can be handled through a negotiated settlement versus litigation. Feel free to give my office a call if you'd like to discuss it further.

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Answered on 10/01/08, 1:21 pm
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: Partner problems

Mr. Pepper gave you great advice. I suggest you call an attorney to handle this for you. I'd be happy to discuss this with you, although I'm not sure that I would take the case. Luckily, I can be rather picky when it comes to what clients I choose, so I would have to have a lengthy discussion with you before I decide if I want to take the case.

Feel free to call me.

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Answered on 10/01/08, 6:13 pm


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