Philadelphia, PA asked in Business Law and Business Formation for Pennsylvania

Q: My business partner has my money and will not put me on books or share profits

I gave my business partner a little over $300-k four years ago. He has not yet put me on the books or shared profits or doesn’t answer my calls and refuses to meet me. I continue to work at the business and run the business. The business partner has complete control of the finances. I just want to get my initial investment back as I realize since nothing is on paper I won’t be able to get profits. Can I get the money back and force him to pay fee’s for the lawyers as well? He has ALOT of assets in terms of how many retail franchise locations he owns.

1 Lawyer Answer
Peter N. Munsing
Peter N. Munsing
  • Wyomissing, PA
  • Licensed in Pennsylvania

A: Attorneys fees possible but unlikely. Focus on the rest. If you have that much at stake you need a partnership attorney. You need to retain one, get advice as to what you can do to secure the evidence --for instance on the computers--etc. If you are in eastern PA I can recommend someone to you.

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