Practice Areas
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Business Litigation
- Partnership Disputes: Protection for Oppressed Minority Shareholders
- Why You Must Look at Your Shareholder agreement Differently when Faced with A Shareholder or Partner Dispute
- Franchise Litigation: Understanding the Role of Discovery in Franchise Litigation
- Termination of Your Gas Station Contracts: Renewal Protections Afforded by The New Jersey Franchise Practices Act
- Partnership Disputes: When Your Partners Construct a "Pre-Text" to Terminate Your Legal Rights
Library
Business Litigation
- New Jersey Partnership Law: Important Resources
- New Jersey Shareholder and Partner Disputes: Important Factors to Consider to Protect Your Business and Equity Interests
- Options When a Business Partner Withholds Information Business Records
- Property Rights of a Business Partner in New York
- Is Your Trademark Likely to Cause Confusion? The Lapp Test
My business partners and I are not seeing eye to eye. Do I need to litigate to dissolve the corporation?
A: If you own a business in New York, and you are not getting along with your business partners, you don't necessarily need to litigate to dissolve your corporation. Your options depend on the way that you and your partners structured the business.
Some of the determining factors in whether or not you can dissolve your corporation include:
- • How you structured your shareholder agreements;
• Your corporate by-laws; and
• The certificate of incorporation.
Certain terms may allow you to petition a judge for dissolution.
Pursuant to section 1104(a) of the New York Business Corporation Law, if you are a 50% shareholder in your corporation, you may petition a court to dissolve your New York corporation. Reasons that a court may see fit to dissolve your corporation include:
- • If the directors are so divided that it cannot be put to a vote;
• If the partners cannot agree on an election of directors; and/or
• If there are split factions amongst the partners, and the court rules that dissolution would be beneficial to the shareholders.
In these situations of corporate deadlock, dissolution rights under New York law are meant to protect certain ownership interests. If you want to know whether you may petition to dissolve your business in New York, you can get the professional advice of a New York business lawyer.
How a New York Business Lawyer Can Help
If you are an entrepreneur who is interested in franchising your business there is a lot you need to know, including the significance of evaluating your trademark and how to approach the preparation of your FDD. For a limited time, get New York business lawyer Charles N. Internicola, Esq's franchise law report to determine whether or not your business is right for franchising. Contact us today at 1-800-976-4904 for more information about Mr. Internicola's franchise law services in New York and how he assists entrepreneurs franchise their business nationwide.
IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. Further you acknowledge that any and all citations to cases and statutes must be independently verified by competent legal counsel to confirm the validity and accuracy of such information. The content of this site is subject to the Copyright of its author and owner, Charles N. Internicola, Esq.
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