I'm in a C-corp business with two other partners. One partner is under performing and we would like to remove him. I've heard that we can do that as long as we don't take his shares. Is that correct?
1 Answer from Attorneys
You are not "in a C corp with two other partners". Legally, "partners" refers to a sepate form of business organization. Your question does not state whether you are a shareholder, officer, or director. Nor does it tell us the status of the other people involved. Nor does it refer to your Articles of Incorporation, Bylaws, or other important legal documents. You need to consult with an attorney and review the pertinent documents. If you are in my geographical area, you may contact me for a free telephone consultation. I have been organizing and representing corporations for the last thirt-five years.
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