Legal Question in Business Law in Missouri

I am entering a new partnership with two other people in the State of Missouri. If I decide later on that I want out of it and want to be bought out, what are my rights to keep my partners from taking my 1/3 of the partnership?


Asked on 6/03/10, 5:41 pm

2 Answers from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

Your rights are defined by your partnership agreement.

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Answered on 6/03/10, 8:59 pm
Kevin B. Murphy Franchise Foundations, APC

An attorney will say now is the time to think through all these details and make sure they're included in a written partnership agreement. In a typical buy out provision, you agree to sell your interest to the partnership for a certain amount in the event certain things happen or don't happen. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 6/04/10, 6:21 am


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