Q: I now own 16.667% of a company I started 20 years s ago. Do I still have a say as to how it is run?
I sold majority interest. Major partner now making major decisions without me Decisions could affect my equity value
A: The percentage ownership does not necessarily determine what management rights you have. The bylaws and/or articles of the company/partnership/corporation should spell out what the ownership and management rights and duties of each person are. If you have a copy of the bylaws or articles, there should be a clause discussing these rights. If you do not have a copy, you should have a right to request one for inspection. And if there are no bylaws/articles or the bylaws and articles are silent, I would consult with a business attorney as there will be ambiguities that you may wish to litigate with the aid of a lawyer.
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