Legal Question in Business Law in Kentucky
solicitation, partnerships
My business partner of 8 years is signing over full control of our company to me for his name being removed from a loan we have. Currently he is still with the company and he is soliciting our clients to his new business. He does not know that I know this. Is this legal?
Also.
When we started this business we argeed to invest $25,000 each. After further review years later I have found that he did not make the full investment; only around $14,000. What if anything can I do and am I entitled to anything?
What actions can I take for either of these issues?
1 Answer from Attorneys
Re: solicitation, partnerships
It sounds like you have a few possible causes of action for civil suit against your partner. There is possible breach of contract, breach of fiduciary duties, and interference with business relationships. You need an attorney to review the specific facts to see what can be done and the most cost effective approach.
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