QUESTION

I started a company and brought in a co founder who is trying to steal the company. What can I do to stop him?

Asked on Mar 20th, 2014 on Corporate Law - California
More details to this question:
I started a tech company almost 2 yrs back. Some time later I brought a co founder. While I was focusing on building the product, Sales & Marketing, my co founder worked on the paperwork, He made himself CEO. took most of the board positions and is trying to negotiate
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2 ANSWERS

Real Estate Attorney serving Oakland, CA at Sack Rosendin LLP
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We've seen this kind of problem lots of times, and we have spent a lot of time setting up companies to try to guard against such fallings out and unnecessary conflicts. You and your partner have enough problems trying to develop the product, customers, and protect your space in the marketplace, without fighting with each other.  Our first assignment would be to identify whether or not your partner is up to no good and try to mediate and negotiate getting the business back on track with protections against such conflicts in the future. First, we'll need to know a lot more about the company, starting with the type of company, who owns what shares, and who has what controls.  Please see my resume and a description of my law firm regarding our qualifications to assist you.We charge $300.00 per hour plus expenses, bill monthly, and expect to be paid promptly after delivery of bills. We would want a $5000.00 deposit before beginning. The deposit would be applied to late payments and restored as soon as the late payment is received. At the end of the assignment, the deposit would be applied to the last invoice and any balance remaining would be paid to you immediately.Dana Sack 510-286-2200
Answered on Apr 07th, 2014 at 1:30 AM

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Probate Litigation Attorney serving Anaheim, CA
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Hi Satish, Just wanted to follow up to see if you were still going to email me docs.   Thanks, Jon   In order to provide you with an opinion that would be helpful I would really need quite a bit more information. How is the company structured? Is it a corporation, LLC, partnership? Are there documents that govern the company (bylaws, operating agreement, shareholders agreement). Once I had this background information and a more complete set of facts I would be in a position to provide you with an educated opinion.  Feel free to follow up with me with more info. Thanks,Jon
Answered on Mar 21st, 2014 at 7:39 PM

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