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We expect there to be investors in the future... Will this effect anything? I'm assuming will need something that will say i can buy pro-rata shares...
Would you be willing to expand on all the things that I should ask for in the bylaws to ensure that my 1/3 equity and voting rights is completely protected. Also, as it pertains to decision making because there are 2 managers will this allow me to block a decision if I think it would harm the company.
also, i want to make sure that my position as a manager is protected.... since they have 2/3 control can they simply remove me from being a manager... if so how can i protect myself
yes i understand... the two of us are member managers. the third owner not being a manager
they want it set up where the company will have two phases... an intial stage (start up) and a second stage (operational)
I'm just very concerned given the nature of there relationship that they could decide to get rid of me at anytime....
it appears you are telling me I need to ask for this in the bylaws..." my interest and position as a manager cannot be dissolved via vote unless such a vote is unanimous for forced buyout or sale except upon judicial determination of incapacitation"
now does that mean if there is someone who wants to take over the company via merger. i can essentially block that because i have the right not to sell my shares and that right is protected by the clause above.... essentially if someone wants to buy the company or the company is going to be sold it must be unanimous or at least my shares are protected from forcibly being bought out. maybe another investor doesn't have this right... is this making any sense.... i promise to pay you soon just want to get all the facts i have a meeting tomorrow morning early
by the way this is a deleware corp.