Re: partner problems

Many thanks to everyone for their help with my
"partner problems".

Some additional details:

My company is a "close" corporation; I own 50% and my
partner owns 50%.  I am president and she is
vice-president, secretary & treasurer.

There is no stockholders agreement in place, or any
other kind of formal on-paper agreement between us.

After a previous "partnership problem", I was advised,
late last year, to create a stockholders agreement by
an attorney we were going to hire for the company,
with each of us free to secure a private attorney to
help develop input for it.  The idea was that the
company's attorney would then work with us to create a
final draft acceptable to both partners.

I had my private attorney draw up some ideas and
presented them to my partner with the suggestion that
she consult her attorney and then we'd go to the
prospective company lawyer.  But she took great
offense to the idea of any deal, and eventually
rejected using the company lawyer as well - she said
he cost too much.

I know I am not a perfect partner - I am a control
freak (I got that way programming for 20 years!) and I
get upset when I get blindsided.  And Michael is
right; she does most of the sales (though I've brought
in a few on my own) and does most of the business end
of things.  Indeed, this is why I hate the idea of a
break-up.  Neverthless I believe the quality of the
sites I do and all the minutiae of maintaining 50-odd
web sites should count for something.

Back to the current crisis:

We spoke by phone yesterday, and she agreed to my
request that her side deal become a company deal, with
the proceeds going to pave her driveway if she gave me
an I.O.U. for half the money; I had hoped to talk some
more about it Monday, maybe come to an agreement on
future situations.

But she emailed me this morning to say "It is
unfortunate that [her husband told me about it] but
the damage is done I am going to do the site end of
conversation."

I hate the prospect of a dissolution and risk of a
protracted legal battle but feel trapped.

I want to thank everybody who's read and responded to
my tale of woe.  Any and all advice welcome!

Bob
 

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