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Arbitration/Mediation/Business Partnership Salary Dispute

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Expert: - 2/17/2009


Question
I have 2 partners, they both have 30% ownership and I have 40%. I have double and triple the experience of the other two. We originally agreed to a reasonable difference in salary for the first year, but nothing was defined for the second year and beyond. Prior to partnering up, they both earned about half of what I made. now they believe we should all be paid equally. Do I have any legal recouse?
Thanks in advance for your help,  Louie

Answer
Louie,

Generally, it depends on the state laws in which the partnership is formed.  It sounds like the two of them have a majority share and can vote to increase their salaries with or without your approval.  If you don't approve, you option may be to dissolve the partnership.  This may also be your leverage if they wish to continue to be partners with you.

I wish you success.

Paul D. Friedman, M.A., Ph.D., J.D.

Arbitration/Mediation

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Paul D. Friedman, M.A., Ph.D., J.D.

Expertise

I am a licensed attorney and Judge Pro Tempore who has conducted and been involved in hundreds of mediations and thousands of arbitrations. I can answer questions regarding settlement conferences, mediations or arbitrations. I do not give legal advice over the internet and it would be helpful to list your location such as country or state.

For more information, you can view my website at WWW.EXPERTETHICS.COM

Experience

I am a licensed attorney, Judge Pro Tempore and adjunct professor.

Experience in the area
I have been a licensed attorney since 1989 and a Judge Pro Tempore since 2005. Additionally, I have a masters degree in bioethics and a doctorate of philosophy regarding comparative ethics

Organizations
State Bar of Arizona
State Bar of Colorado (inactive)
District of Columbia Bar (inactive)
Federal Bar
Licensed in Arizona District Court
Licensed in Ninth Circuit Court of Appeals
Licensed in the United States Supreme Court
American Bar Association
National Board of Trial Advocacy
American Association for Justice
Arizona Trial Lawyers Association
American Society for Bioethics and Humanities
Kennedy Institute of Ethics
National Association of Realtors

Education/Credentials
Bachelor of Arts 1985
Juris Doctorate 1989
Master of Arts in Bioethics 2004
Doctorate of Philosphy 2006

Awards and Honors
Phi Beta Kappa
Multiple Who's Who

Publications
A list of my copyrighted publications and presentations is contained at WWW.EXPERTETHICS.COM

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