Legal Question in Business Law in Michigan

I'm a manufacturers rep. I built sales at the company I rep from 10 M to 60 M . The company is now very valuable and is possibly looking to sell.

How do I protect myself if the sale is an asset sale?

Asked on 1/26/16, 1:53 pm

2 Answers from Attorneys

Brad Lambert Lambert & Lambert PLC

Much depends on the terms of any contracts you have with the company. Based on your question, you presumably are not an owner - if you are, the answer changes. If you are not, your contract presumably entitles you to commissions for a period of time. The Company may not be able to transfer that right from you. There are other potential rights as well, depending upon how you are treated in any asset sale. More information is needed to explore these possibilities.

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Answered on 1/26/16, 2:05 pm
Thomas R. Morris Silverman & Morris, P.L.L.C.

The answer is complicated. It requires the evaluation of the company and its financial structure, an evaluation of the possible sale, the identification of your options for influencing the outcome, and the development of a strategy. It won't be possible for an attorney to give you a comprehensive answer on this website. I recommend that you consult with an attorney who is knowledgeable about business law.

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Answered on 1/26/16, 2:07 pm

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