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Is my business partner allowed to use all of our income and put it into his new business?
In Panama
Last Updated: Sep 9, 2025
My partner and have a 50/50 partnership in a corporation selling Trucks. He is now saying that all the income from the sale of the trucks should be his, since he is doing most of the work in getting clients. Is this legal?
Answers (6)
Posted Tue, Sep 9, 2025 11:24 AM
Please feel free to send us an email at info@lawyerinpanama.com.
At Universal Services, we're your trusted partners for comprehensive legal and language solutions, catering to the diverse needs of both...
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Posted Tue, Sep 9, 2025 11:58 AM
If you are shareholder of the Corporation with (50%) must be and agreement amount other to decide the profits even if he work more.
Molina & Co. Law and Business Strategy ConsultantsAt Molina & Co., we stand at the forefront of law and business...
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Posted Tue, Sep 9, 2025 7:37 PM
Hola, ¿cómo estás? Si ambos son accionistas, es fundamental que exista claridad y consenso respecto a las ganancias y decisiones de la empresa. Para proteger sus intereses y evitar futuros conflictos, siempre recomendamos formalizar un acuerdo de accionistas o de socios.
Estos acuerdos establecen de manera clara los derechos, obligaciones y beneficios de cada parte, brindando seguridad jurídica y estabilidad a la empresa.
Si te interesa, puedo orientarte y preparar una propuesta personalizada para tu caso. Por favor, envíame un correo a moisesalvarado@panleb.com y con gusto te ayudo a estructurar todo de la mejor manera.
Posted Tue, Sep 9, 2025 7:57 PM
Hello! We would have to check the partnership agreement ? What does it allow partners to do? Are they forbidding from setting up competing businesses?
How many hours is the partner working “getting clients”? Did the other partner authorize this?
Who pays business expenses? Contact us at info@ laglawyers.com with the relevant documents and we can provide a quote to provide options to reverse this
Lombardi Aguilar Group is an international business law firm in Panama. The attorneys at our firm provide their clients fast,...
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Posted Tue, Sep 9, 2025 9:15 PM
Good evening, this is a matter where we will need to check the acts of incorporation, any agreements among partners and others. Please send us a line with more information to rose@movingtopanama.net
Trusted Immigration, Corporate, and Legal Services | Rose Moreno Legal Advisor & TranslatorAt Rose Moreno Legal Advisor & Translator, we...
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Posted Wed, Sep 10, 2025 1:49 AM
please send us an email at info@kovalenkovera.com
Kovalenko & Vera is a Panamanian law firm that stands out for its commitment and dedication to providing a personalized...
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