Dissolution of one business owner
There are five business owners in our corporation. One of those owners has a 40% share of the business. He has embezzled a large amount of money, caused multiple problems for our company with customers and vendors. We would like to dissolve his ownership and ''boot'' him out of our company. He did not put any monetary funds into starting the company, just gained the 40% ownership based on his expertise. How do we dissolve his ownership?
1 Answer from Attorneys
Re: Dissolution of one business owner
This question cannot really be fully answered without first looking at the corporate ownership documents. However, it is very likely that you will need to sue this owner to remove him from the company.
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