QUESTION
I have a document that states that I am giving 2.5% of my 10% to Jon, another partner, and my partner,Matt, is giving Jon 2.5% of his share.
Asked on Dec 30th, 2011 on Breach of Contract - Tennessee
More details to this question:
No others are involved and this is a LLC. I do not have a contract stating that I have 10% only the previously discussed document. I was fired as an employee of the company and never given a dime of my 10% from Matt, the majority owner of the company. I have tried to talk to him about it but he refuses to discuss it with me. Should I file a lawsuit, I do know that he is doing quite well because he is branching out all over 4 counties. I also built the technology that he is using and developed the processes if that helps
1 ANSWER
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Your dismissal from the company does not negate your ownership interest in the company. You may not have received any money from the company because the company has yet to do a distribution to the members. You should contact a local business attorney to determine how best to determine what, if anything, you are owned for your share of the LLC.
For more information visit my website at www.alsobrooklaw.com.
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Answered on Jan 24th, 2012 at 3:19 PM