QUESTION

Ohio based small business S Corporation. Can one partner force a buyout of another partner. One parter has lost about 300k due to project mistakes.

Asked on Jul 04th, 2012 on Business Law - Ohio
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Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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Corporations do not have "partners"; they have stockholders. As a general matter, one stockholder has no right to force out another stockholder except under limited circumstances that involve the payment of fair compensation to the departing stockholder.
Answered on Jul 04th, 2012 at 7:40 PM

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