My business partners are trying to squeeze me out, but don't know that I know. What to do? No operating paper

I have a company with 25 commission based associates under me and 2 partners. The rumor is that they want to get rid of me or at least 1 of them wants to quit and sell their interest to the third partner. We are currently equal partners without an operating agreement in place. There is a great project coming up that they would have to share with me if we stay together. I hate that this may be happening so near the holidays and my heart breaks for the people under me. What would you do? I'm not sure if they told someone that they knew would tell me b/c they hope that I will go quietly or if they were to afraid to tell me. Perhaps, they wanted to wait and get other things in place. We are in a leased office, but we should be moving to a bigger office soon that the 3rd partner financed.

Would you confront partners, pretend not to know and plan exit strategy, or what?

u need an attorney yesterday .
sit down with all partners at a nice not over priced restaurant . start a discussion of forward growth . bring up Ur concerns of the legal problems of NO partnership papers. get ur dirty laundry in public b4 u have the doors slammed in Ur face.
be sure of their intentions and get ready fro a legal battle or early buy out.
do not sign on lease until ALL things are written down legal.
u got some hard /expensive/painful lessons coming ur way ?

I don't understand your question at all. LIFE. I am sorry, that I crash landed here.

i took notice of d word "RUMOR" in ur query, if u can't confirm it then you should sit back and relax. on the other hand, as one wud ordinarily do in a partnership, u shud be doing something to jump out as silently as possible and d sooner d better. juz don't ever tell anyone about it. widout mentioning about it, talk to prospective partner/s . better still you go solo. feel free to drop by shud u find time and feels chatting all about it thru my email. ciao!