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Home > Legal Questions > Legal Categories > Business Law > Question

Legal Question and Answer

Legal Category: Business Law      Location: Delaware
Posted: 05/24/2012      Approved: 05/25/2012
Number of Replies: 1     Email Copy To: email financial advice

Question:

I am 30% owner of Delaware LLC. I have worked for 2 years on start up company for no pay in return for 30% ownership. The other 70% is held by one person.

The 70% owner has decided to either dissolve the company or move on with the company without my involvement with no compensation for me.

What are my rights - can I stop company being dissolved?

If the company continues do I retain 30% ownership and can I claim share of future profits as 30% owner?

We did not have an operating agreement and the 70% owner thinks he can just ignore me and carry on as he wants to

Thank you

Answers: (click on an answer to view the answer)



Posted Subject Submitted By



2012-05-25The agreement should spell out what exactly you own. Maybe you own a full 30 pe... [read the rest]... James Smith


     

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