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Category: Business Law
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Subject Breach of Contract I invested in a start up company

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Subject: Breach of Contract

I invested in a start up company a year ago and paid $100,000 for a 2.5% interest in the company. A year later I verbally agreed with a contract forthcoming to work as a sales person on commission with documented emails. Well, I made the proper connections and now with the connections I've maid, the company is going on the Global market with this product. As soon as it was realized I was told to stop representing the firm and that the board did not feel it right that I be compensated for my work. Were talking about hundreds of thousands of dollars in commissions. In the last 2 years I have not recieved any dividends either. Dale M
Submitted: 6 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 6 years ago.
Your 2.5 percent interest is unchanged and you can enforce it. If you were promised additional wages and not paid you can sue for this balance. To have more equity, you would need something in writing.
Customer: replied 6 years ago.
If I have emails received regarding agreed commission, would this be the something in writing your talking about?
Expert:  INFOLAWYER replied 6 years ago.
Yes, that would give you a stronger claim to recover the commissions.
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