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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am in business with my daughter-in-law and we are both classed

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I am in business with my daughter-in-law and we are both classed as directors. However, she hasn't put a penny into the business and it has been totally funded by my husband. She is trying to take over completely but she hasn't the experience needed to do this. As we are classed as business partners on an equal share basis is there anything I can do to indicate she does not own the business
Hello my name is ***** ***** I will help you with this.
Is this a Limited company? If so what % shares do you have each?
Customer: replied 2 years ago.

Ltd company with both having 1 share each

Ok, then you are 50% shareholders. She can't really do anything without your agreement. You are 50/50. She does own half the business, she has 50%. Therefore you cant really say she doesnt own it because she owns half.
I assume there is no Director/Shareholder agreement? If there was it would set out each others rights and responsibilities. That means it would detail what each party would do, if that was breached or they did not do what was promised then there could be a trigger to get rid of, or buy the other one out.
But sadly as it stands you are 50/50. You both need to work together otherwise sadly the only option is to buy her out, in the absence of any written agreement.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
Can I clarify anything for you about this today please?
Customer: replied 2 years ago.

So even though she has not put a penny in there is nothing I can do to over ride her decisions and make her realise she is not the boss

Correct, unless you have any agreement that says otherwise. This is because you are 50/50. Its not about who put the most money in.
I am sorry.
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