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Originally Posted by BlingDaddy
I'm no legal expert, and I would advise you find one. There is no such thing as a "closed corporation".
You parents will not be able to assign the third party shares unless they are majority owners. Additionally the "third party" where are they?
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two-thirds of the business is owned by our family, the third partner has also already agreed to sell his shares so that my family will own 100% of the business and he will just work for us....