Legal Question in Business Law in Maryland

Can I be locked out of a business ( restaurant ) which I am 46% owner and I have been running it completely for 7 years. What are my rights? My partner has been completely silent until now!

Asked on 8/22/15, 4:55 am

1 Answer from Attorneys

Robert Sher Wagshal and Sher

I assume this is a corporation or limited liability partnership. Unless there is a corporate or business agreement that protects the rights of minority owners, the majority has vast authority to make business decisions such as this. However, you can protect your ownership interest in a legal proceeding by seeking an accounting of business assets and your share of any profits being generated. You can also demand to inspect corporate records and books. Consult an attorney in your area with experience in business law for more information.

Read more
Answered on 8/22/15, 7:05 am

Related Questions & Answers

More Business Law questions and answers in Maryland