What are my rights when asked to relinquish ownership of my company by my business partner?

UPDATED: Dec 16, 2011

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What are my rights when asked to relinquish ownership of my company by my business partner?

I am a 49% percent owner of a new business. There is no value other than a very small book of works. I will agree to said relinquishment as long a the company is dissolved completely and does not continue to operate under its present name. Is this a fair and reasonable condition for share relinquishment? What options should be considered in this matter?

Asked on December 16, 2011 under Business Law, Indiana

Answers:

Michael D. Siegel / Siegel & Siegel, P.C.

Answered 11 years ago | Contributor

Yes, your demand is not only fair, it is actually the cleanest way to do this.


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