How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask AttyHeather Your Own Question
AttyHeather, Lawyer
Category: Legal
Satisfied Customers: 677
Experience:  15 years law practice experience
Type Your Legal Question Here...
AttyHeather is online now
A new question is answered every 9 seconds

NY, yes, I was offered part of a company for my services I

Customer Question

HI Pearl
JA: What state are you in? It matters because laws vary by location.
Customer: NY
JA: Has anything been filed or reported?
Customer: yes
JA: Anything else you want the lawyer to know before I connect you?
Customer: I was offered part of a company for my services I am not sure how to find a contract that states I am part owner of the existing company for the 20% on all the services they currently provide and 50% on the new services we will develop together in the future.
Submitted: 1 year ago.
Category: Legal
Expert:  AttyHeather replied 1 year ago.

Hi! I'm Heather. I've been a practicing attorney for the last 15 years, and I'd be happy to assist you for informational and educational purposes.

Expert:  AttyHeather replied 1 year ago.

What you are talking about is a bit technical. But you can get a good start by going to this website:

You need the operating agreement of the company to be amended (or prepared) to reflect your interest in the company. The website I mentioned has operating agreements for NY LLCs (so I'm assuming you're talking about an LLC, as that's what's most common). You will probably need to go through the provisions and change them a bit to fit your circumstances.

Let me know if that answers your question.

Customer: replied 1 year ago.
I am not sure what is the type of company. Here is the company:
Expert:  AttyHeather replied 1 year ago.

Based on that website, the business entity is a corporation. There would still need to be an operating agreement, but it would need to be for a corporation rather than an LLC. The corporation should already have bylaws and an operating agreement in place, although they are not filed with the state. You should ask the other owners for a copy of the operating agreement, and then you need to draft up an amended operating agreement and bylaws reflecting the new agreement that they have with you.

Expert:  AttyHeather replied 1 year ago.

Can you let me know if I've answered your question? Also, you are free to ask follow up questions at no extra charge, so let me know if there is anything else I can assist with.