Partner of a Company Fired as an Employee
Hey everyone so here is my question:
I was an employee and a partner of a company for almost 9 years. I was a minority partner about 10-12%. Last week I was fired as an employee.
I am supposed to have a meeting with owner of the company and would like to come with solid facts and legal proof that he has to buy me out or pay me out (not sure what it is). Can someone show me where I can find verbiage or the law that says this is what has to happen?
My % was a handshake deal (now I know its not smart) but I really don’t think he will go back on his word. I do know that he is a smart guy and if I show him I know what the law is and how it should work he will do the right thing. If not I guess I got nothing.
Re: Partner of a Company Fired as an Employee
Since you have no contract, and he offers you a fair deal..I would take it and run.
Re: Partner of a Company Fired as an Employee
Ya missed this:
My question involves business law in the state of:
btw: even if you are fired as an employee, you are still a 10% interest owner of the company
Re: Partner of a Company Fired as an Employee
Sorry the business is in PA