What are my options if I started a business with a partner and there a 50/50 split but now he says that he is worth more than me and wants to take a bigger percentage?
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What are my options if I started a business with a partner and there a 50/50 split but now he says that he is worth more than me and wants to take a bigger percentage?
If I don’t agree, he will walk out. However, I will not give the egomaniac part of my ownership. We started the business 2 months ago.
Asked on May 8, 2014 under Business Law, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
He cannot unilaterally (by himself) change the split simply because he feels he's worth more; he is bound to the terms of the agreement. That said, he is not required to keep working for the business (unless there is a contract obligating him to do so) if he feels undervalued, so he could most likely walk away.
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