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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 12954
Experience:  B.A.; M.B.A.; J.D.
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I am currently living with someone in Alaska, I am 100% owner

Resolved Question:

I am currently living with someone in Alaska, I am 100% owner of a small company we run together. We are having relationship problems and I am thinking of leaving him, he has threatened to take the company if I do. Does he have any legal right to the company where I am the sole owner/single member of the LLC? What can I do to protect my company from him?
Submitted: 3 years ago.
Category: Business Law
Expert:  Phillips Esq. replied 3 years ago.

Thank you for giving me the opportunity to assist you. I encourage you to ask me for clarification, if you are not clear with my Answer.

 

Question: I am currently living with someone in Alaska, I am 100% owner of a small company we run together. We are having relationship problems and I am thinking of leaving him, he has threatened to take the company if I do. Does he have any legal right to the company where I am the sole owner/single member of the LLC?

 

Response 1: No, he does not unless you have a written Operating Agreement that gives him part interests in the LLC. Otherwise, he has no right to the LLC

 

What can I do to protect my company from him?

 

Response 2: Nothing. If the LLC is in your name only, his threats are empty. He cannot take a business that he does not have any interests in.

Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 12954
Experience: B.A.; M.B.A.; J.D.
Phillips Esq. and 14 other Business Law Specialists are ready to help you
Customer: replied 3 years ago.
Do I have any legal right if he goes to my venders and they allow him to take over my contract? I am the only one on the LLC and on all contracts/leases for all locations in AK that we service.
Expert:  Phillips Esq. replied 3 years ago.

 

 

Do I have any legal right if he goes to my venders and they allow him to take over my contract? I am the only one on the LLC and on all contracts/leases for all locations in AK that we service.

 

Response: Your vendors at that time would be in breach of your contract with them and you would sue the vendors for the breach. You can also sue your friend for tortious interference with business relationships. In a tortious interference case, you have to prove (1) that you have contractual relationships that he is interfering with; (2) that he did indeed interfere with the relationships; (3) that his interference injured your business relationships; (4) that you sustained damages as a result.


You would need a business lawyer for this. Click here to find business lawyers in your area:

 

http://www.lawyers.com/

 

http://www.justia.com/

 

http://www.avvo.com/

Customer: replied 3 years ago.

We work closely with many lawyers here so I have a good list, unfortunately most of them are also friends with my soon to be estrange. I will just have to hope that the almighty dollar and potential for misconduct that could get them disbarred will help aid my search if and when the time comes for such action. Thank you for your time, I just needed the "peace" of mind to know for sure that his are empty threats and the law will be on my side of this struggle, you have given me that and it is much appreciated.

Expert:  Phillips Esq. replied 3 years ago.

We work closely with many lawyers here so I have a good list, unfortunately most of them are also friends with my soon to be estrange. I will just have to hope that the almighty dollar and potential for misconduct that could get them disbarred will help aid my search if and when the time comes for such action. Thank you for your time, I just needed the "peace" of mind to know for sure that his are empty threats and the law will be on my side of this struggle, you have given me that and it is much appreciated.

 

Response: Yes, threat of disbarment should keep the attorneys in line.

 

I am glad to have helped.

 

All the best,

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