I am the Founder and Director of a San Diego based
Greetings,I am the Founder and Director of a San Diego based non-profit organization.I am dissolving the organization in the near future.The question pertains to the website which I paid a developer out of my pocket to create for the non-profit companyOnce I close the organization, I would like to retain a lot of the material on the current website of the non-profit (For my new company) which will be a sole proprietor company.Do you for-see any problems here?Thanks!
I am reading your response on anti-dilution of shareholders
I am reading your response on anti-dilution of shareholders in an LLC I am trying to close a deal to take 51% of an LLC, but the founder (at 26% with Double voting rights) says that we cannot legally ask for anti-dilution rightsJA: Can you tell me what state the LLC is registered in?Customer: MichiganJA: Has anything been officially filed? If so, what?Customer: The LLC was set up a couple years ago. We are negotiating the rewrite of the Operating AgreementJA: Anything else you want the lawyer to know before I connect you?Customer: that is the important bit
Before I ask my question some background is needed. Friends
Hi -Before I ask my question some background is needed. Friends of mine and I started a business and unfortunately we've had challenges and simply can't work together moving forward. There were originally 4 partners and we were equal equity owners with vesting schedules. One partner had to bow out so there were 3 of us left. A big challenge was that the other 2 partners were very part time and one of them created major headaches by acting unilaterally and with a very bad attitude. He came and went at his schedule and ruined his relationship with our most important outside business partner. That outside business partner said that they will never work with that partner ever again. That partner was the one that introduced the outside business partner to the company.I was doing the majority of the work as the acting CEO but eventually got burned out and began participating at the pace of the other founders which was getting us nowhere quick. The challenging partner brought in a new, qualified CEO and I spent much time getting that person acquainted with the business. During his due diligence he asked us to dissolve the corporation so we could start fresh with a new one. We all agreed and dissolved our Delaware Corp and our California Corp. So, currently there is no corporate structure. During that process the challenging partner created enough upheaval that the almost new CEO chose not to continue moving forward. So, once again the challenging partner brought in a person to the business and then ruined the relationship with that person to the point of no longer being interested in the project if he's involved.The company is pre-revenue.A few months ago everyone stopped communicating when the almost new CEO bowed out. That person told the challenging partner that he felt the business couldn't continue with the challenging partner involved. The challenging partner was saying he wanted a way out and the almost new CEO offered him a way out of the company but the challenging partner refused and wanted to be compensated with equal equity participation. Everyone that was involved in the company has refused to work with the challenging partner. I've spoken at length with the outside business partner that is key to the business moving forward. They are cool to move forward in assisting the business as long as the challenging partner is not involved so I was considering picking up the ball and stepping back in to the CEO role without any of the old team. I don't know the best way to do this though because I'm not interested in moving forward if legally I run in to problems with the challenging partner. Can I start a new company with the same name or an iteration of the current name and own the company 100% without including any of the old partners since they are not doing anything anyway?I hope I've given enough information to begin a dialogue with you as to what be the best way is to move forward. The business is really cool and a proven market is there for the product.
I was asking about cost and whether the question becomes
I was asking about cost and whether the question becomes public, but I just got my answer on the customer service line can I ask my question here?JA: What state are you in? And have you consulted a local attorney?Customer: FloridaJA: Has anything been officially filed? If so, what?Customer: noJA: Anything else you want the lawyer to know before I connect you?Customer: It's a question regarding a potential business partnership and disclosure of information
I need a legal opinion on a Supplier Agreement I am a party
Hi:I need a legal opinion on a Supplier Agreement I am a party to.The Agreement was created to assign the franchise system rights to my company from a client that defaulted on a Development Agreement and owed considerable unpaid. Part of the consideration for us accepting the franchise system rights, was waiving the balance, which at the time was $45K.If you quickly review the Agreement you will see that the Seller (the original business Founder), was to perform various on-boarding duties, such as franchisee training and support, etc. Albeit, in exchange for a fee for each service performed.The Agreement is 3 years into a 10 year term and the assigning party now wants to sell the original business that the franchise system is based on (Better Life Maids). Further, he reports that his buyer wants to sunset the Brand, as part of the acquisition terms.I am in my current talks with him, as he is requesting that I reassign the rights back to him, "even though they had no plans on using the Brand". Unsurprisingly, he is offering little compensation, as he asserts "that if he walks away it will be worthless to me".My question is, based on the Agreement and his pledging to perform brand training and support, can I assert a contract interference defense to his abandoning the Brand and the Agreement? At this point, I am happy to grant back the rights, but not without the compensation originally wrote off in consideration of the original assignment, which is far more than the $15K he offering, as "a gesture to part as friends".
I am a partner in private gym (Studio). It was started by
I am a partner in private gym (Studio). It was started by two individuals who know the personal training very well but have no experience running the business. They offered me o take 10% of ownership. I looked at the financials since the beginning in March 20115. I noticed that the rent that started at $4,000/month has gone up to $11.500 in Feb 2017. In fact they are having difficulty paying the rent. The per sq, ft.rate of rent is too high compared to the other buildings in the area. The lease ends in Dec 2018. There is no way we can pay this high rent. Can an LLC declare bankruptcy? What happens if we offer to negotiate and just not pay if negotiations fail. Will it go against the founders/majority share holders credit rating?
Second opinion] need some answers please. I am a Board
Second opinion] Hi, need some answers please. I am a Board member of a charity non profit. Some of the Board members would like to know if they can be paid. We have a professional, with a marketing company, on the Board and would like some type of compensation for work performed, beside the reimbursements that are allocated. Also, we have a co-founder that is moving to the position of paid Executive Director but wants to keep a voting right on the Board. How do we place this in the bylaws, co-founders retain a voting right? We are 501(c)(3) with the State of North Carolina and do business in California.
Need some answers please. I am a Board member of a charity
Hi, need some answers please. I am a Board member of a charity non profit. Some of the Board members would like to know if they can be paid. We have a marketing professional on the Board and would like some type of compensation for work performed, beside the reimbursements that are allocated. Also, we have a co-founder that is moving to the position of Executive Director but want to keep a voting right on the Board. Can we place in our bylaws that they can keep a voting right if they are active in meetings?