I want to resign from our small business partnership. One business partner took it upon herself to write my reaugnation letter and the terms involved. Although ive put in time and money into the business i do not get anything from the business and just owe them money for new materials and a phone bill on a phone the one partner has sole 24/7 access to. I refuse to sign the letter/contract. I need help! I need to know what my liabilities and assets are.
1 Answer from Attorneys
Please, hire a business attorney. You call this a business partnership. Is it actually a partnership? Is it instead an LLC? Is a corporation? This matters.
I would hope you have a written owners' agreement, but that is rarely the case unless the business spoke with a business attorney. If you have no written agreement do you have an oral agreement regarding your rights as an owner?
You need an attorney as there are many facts that you don't know and don't understand that will implicate your rights. Moreover, signing anything, especially a business agreement, without an understanding of its implications is an awful idea.
Related Questions & Answers
I wanna start a business i have a partner in us i dont know him but we try to... Asked 4/11/13, 11:29 am in United States Colorado Business Law
Is it possible to break a commercial lease. What are the repercussions? Asked 4/08/13, 8:56 am in United States Colorado Business Law
I have a personal loan that is with a Movie Producer, The loan was to be repaid back... Asked 3/28/13, 12:00 pm in United States Colorado Business Law
Myself and 3 other individuals entered into a partnership and created a mobile... Asked 3/18/13, 10:46 am in United States Colorado Business Law