Provided by: Jennifer Kirschenbaum, Esq.
January 20, 2022
In my new employment arrangement there is supposed to be language that my Employer may give me partnership. How do I get my employer to commit to giving me partnership?
Thank you in advance.
Prepare to fast forward! "May" give partnership is a promise before the promise. Another words, no commitment offered. Partnership is one of those offers that requires execution of definitive agreements - typically - to be enforceable. Sure, there are winners through lawsuits that an offer was actually made an accepted, with facts to support. But, generally, there is consideration paid whether through cash or services in exchange for an equity offering. How do you get your employer to commit? The employer needs to present an offer for partnership, you would do your due diligence and confirm you accept, and you would sign the necessary documents to paper the exchange. The short answer - you can't "make" the employer give you partnership. But, you can inquire and try to pin down a timeline when the employer will make an offer, and if the employer does not agree to the timeline you will have an answer (just not the one you may want...).