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Own a business with two partners. Per partnership agreement, percentage of partnership is determined by draw. According to tax documents, I own 68%. Other partners are threatening to close the business, no buy out offer. Can they do that? Can I just take over the business? The other partners are set to make 0% this year while my draw will be 100%.
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You'll either have to negotiate a resolution to the buyout or you can bring a lawsuit for the partnership dissolution. You're going to need to hire an attorney to represent you.
Answered on Jun 01st, 2017 at 12:51 PM