Legal Question in Business Law in New York

My husband is a partner in an architectural firm in New York. He is leaving the firm soon and he and his partners are working on a buy out agreement now. His partners want to keep my husband's name in the firm's name after he has left. Are they allowed to do that?


Asked on 3/21/11, 10:09 am

1 Answer from Attorneys
Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Generally speaking, a person does not hold any rights to a company's name even if the company is named after the person. However, under certain circumstances, licensed professions have limitations on the use of partner names after the departure of a partner. In addition, the governing documents of the firm need to be examined as they may disallow such use.

In any event, it is highly encouraged that your husband consider having an attorney review the buy-out agreements as there are many additional legal issues, that may not be apparent, which would create unnecessary liability even after the he leaves.

I would be happy to chat with you further. Feel free to contact my office at your earliest convenience.


Roman R. Fichman, Esq.

www.TheLegalist.com │ @TheLegalist

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Disclaimer: This posting has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice. You should always consult an attorney admitted to practice in your jurisdiction for specific advice.

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Answered on 3/21/11, 10:23 am


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