"does my partner owe me on a buy out?"


I have left a business that my brother and I started 5 years ago. With the current housing economy our company could no longer sustain both our families. He had a recent home equity line that he was able to use until business picked back up. It has now been 5 months and we are tying up loose ends.

He feels that since I left he owes me nothing for the business. I believe that since he has been operating under my contractors license I am still owed a buyout value and have equity in a company that will potentially end 2008 earning a net cash flow of 100,000.

He would like me to sign over my share to him for zero money.

This is by far a slow year, years past our net cash flow has been 3xs that amount, that we have typically split. We have no debt to speak of only payment on 35,000 dollar work truck.

Am I at fault to believe I am owed on the future earning potential of the reputation and business contacts that I have been an intregal part of? As I said before, the contractors license belongs to me.

Thank you in advance for your insight.