Legal Question in Business Law in Colorado
I am a member of equal value with 4 partners , I was going to invest 8k and 3500.00 to get in an office. I never signed anything but was seeing how things went. Well now my other partners have taken sales out of the CRM and also have taken sales from clients I sold. I have for 5 days now tried to ask for a meeting and or conference call. No response, we put in our operations agreement it is a unanimous vote to change anything , or it goes to mediation. The bank account is down to 2.01 , but we are a service where there are recurring payments coming in . Also I have Clients that are expecting this service but removed , I kept a list and we all worked from different locations so there is ips address history , and everything on my computer is backed up. I think cause I was hesitant on on investing the money they are being this way hence I hadn't signed the new operating agreement which did not state my investment or the tax issue I was concerned of. I know they have talked amongest each other, but we also have a non compete clause in the agreement. This situation has really caused the LLC to not function as intended or how revenue was to be originally used . I have clients that I need to contact , I would still like to keep my word to them . What can I do to remedy this situation . Also my email has been ascessed by one member without an agreement to this and no knowledge of this was being done
1 Answer from Attorneys
Your rights depend in large part on the operating agreement. An operating agreement written by an experienced business attorney would normally include a complete dispute resolution clause. I don't know if what they are doing constitutes a change under your operating agreement to trigger mediation. Again, it all depends on your agreement terms and more facts.
So review the operating agreement to determine if the terms require some dispute resolution duty. As to contacting this client, if this is related to the LLC then this is the client of the LLC and not your client. Depending on the LLC structure, you may owe various duties.
You are best of contacting a business attorney to guide you through the process so it is done right and protects your options.
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