Legal Question in Business Law in Illinois

Business Partner

I have a business with 3 other partners. I decided I now longer want to be a partner in the business. I want them to buy me out. What do I do if they refuse? I dont want to be at a loss here for the work I did.


Asked on 2/21/07, 10:44 am

3 Answers from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Business Partner

You can file a law suit to dissolve the partnerships and divide the assets.

Good luck.

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Answered on 2/21/07, 10:47 am
Michael Rosenblat Michael C. Rosenblat., P.C.

Re: Business Partner

I would have any attorney review your partnership agreement for buy-out and dissolution provisions.

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Answered on 2/21/07, 11:12 am
Noelle Ansley Noelle Ansley

Re: Business Partner

It will depend on if you have a written agreement and when you partnership was formed. There are different acts that will apply according to when you formed the partnership. You need to provide more information, or contact an attorney to discuss the specifics of your situation.

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Answered on 2/21/07, 1:06 pm


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