2007-08-29 20:41:52 · 7 answers · asked by steve k 1 in Business & Finance ➔ Corporations
You're both owners... he has the controlling interest.
2007-08-29 20:45:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You both own the company. Because of the 51% vs 49% the other guy (sounds a bit like the other woman..ha ha) has control of the company.
If control = ownership, then he has effective ownership of the company.
He can make decisions about everything, even including how much to pay out to you, unless specified somewhere in writing.
Such a setup is so that you are the "silent partner" which means, you give money, but have no say in running the company.
If you built the company together, then it sounds like he screwed you big time.
2007-08-29 20:51:59 · answer #2 · answered by flingebunt 7 · 0⤊ 0⤋
Legally since its a corporation you both are. You both can make decisions without the others permission. Trust me I have studied this sort of thing. Just because he has 51% just means he gets 51% of the net profits basically. Nothing else.
2007-08-29 20:50:44 · answer #3 · answered by Anonymous · 0⤊ 1⤋
You both are owners. He is the majority owner because he has the majority of the stock and has ultimate authority. You are the minority owner for the same reason.
2007-08-30 02:28:32 · answer #4 · answered by ustoev 6 · 0⤊ 0⤋
The shareholders are the owners, that is, both of you.
He has enough shares to outvote you in every decision.
2007-08-29 23:08:45 · answer #5 · answered by Feeling Mutual 7 · 0⤊ 0⤋
both of you are owners, but he may have final say in major business tranactions.
2007-08-29 20:49:42 · answer #6 · answered by Malina 7 · 0⤊ 0⤋
both of you, he owns more shares and therefore is in more control
2007-08-29 20:48:44 · answer #7 · answered by johnnybelinda 4 · 0⤊ 0⤋