Minority Share Holder's Rights

[Mike Gravino]

My question involves business law in the state of: NJ

Good day,

I am currently in a company with 4 other partners. Each of us hold 20% shares in the company. It was a small company that has grown pretty well during time. I have put a lot of blood sweet and tears in to it. There are 2 partners that always stick to together and they have been causing a lot of issues. (mostly attempting to make decisions with the company that favors them) Since I am the most vocal and usually against them they have a grudge against me. Well one of my partners sold to on of the other 2. So now they have majority.

The company is set as follows:
1. partner has 40%
2. partner that always stands behind the first partner owns 20%
3. me at 20%
4. and a trustworthy partner with another 20%

the question i have since they are always attempting to push things in their favor i can assume i will be seeing a lot of this happening especially since they have majority.

What rights do i have? Do i have to worry about them being hateful and ruining me? what can i do to protect myself.

Thank you for the help

[Mr. Knowitall]

If partners holding 60-80% of the voting shares disagree with a partner holding 20% of the voting shares, yes, you can expect that they'll outvote you. Your specific rights, if different from a standard "majority vote", should be outlined in the bylaws (if a corporation) or operating agreement (if an LLC).