Q: My business partner is avoiding me, how do I use my majority right to regain control of my business?
I joined partnership with my partner to take over a restaurant. The share is 71-29, I'm the majority with 71 and my partner holds 29. I leave all operation to her since I'm having a baby and our business has been losing heavily since we open on July. I have found an experienced party who is willing to join venture to help to bring our business up to good standing. My partner is refusing this offer but I want to go with it. She is ignoring my text, email, and calls. What can I do to be able to go with the other party? Everyday that she is avoiding me and keep the business open I'm losing thousands. I rather close it down for now till the other party can join. Please help.
A: Your rights here really depend on what the partnership agreement says and what powers it gives you as the majority partner.
It also depends on whether this is a limited partnership, an LLC, general partnership, etc.
A full consultation would be necessary to properly advise you.
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