Legal Question in Business Law in New York

� I am staring a coaching business that is based upon my life work, and academic background.

� My Ex, a very smart SM marketer wants 25% share in my company, a startup, and if he leaves I do not have to pay him any money but he still hold 25% stake.

� I am offering him 25% of the company income as long as he is working it, but he declines.

� If he leaves and I do want to get rid of his share entirely, what options do I have?


Asked on 2/22/17, 8:21 am

1 Answer from Attorneys

Frank Natoli Natoli-Legal, LLC

I don't really understand your question entirely. Any entity you set up either yourself or with a business partner should be supported by a written agreement like say the operating agreement of an LLC. In this document it will spell out rights and obligations of the members. There is no "one-way" to do this.

Before you take any action, I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

Read more
Answered on 2/22/17, 8:25 am


Related Questions & Answers

More Business Law questions and answers in New York