Legal Question in Business Law in California

Legal or finanical responsibility as a representive for $10-100milion dollars de

We are looking for US$10-100million dollars financing. I is a representive for these ongoing deals on the behalf of Founder. This is an online business established at outside USA -- Offshore country.

My questions are below:

1. When these deals are done, if anything happen such as Chairman don't agree with Founder's opinion or funding distribution by not following the use of Fund, what is my responsibility as a Chairman and representive for the deals?

2. If I have to decide resign if peaceful solutions didn't work out, but deals come into the table, what is my legal and/or financial responsibility?

Thanks advance!


Asked on 10/24/03, 6:46 pm

2 Answers from Attorneys

Michael Olden Law Offices of Michael A. Olden

Re: Legal or finanical responsibility as a representive for $10-100milion dollar

In order for me to really understand the nature of the business, the business structure, the type of entity to be able to then tell you what your personal liability or responsibility is I would need answers to numerous questions which are not disclose thus far. Additionally, even if this were a corporation, anybody could attempt to pierce the corporate veil. This is very difficult, costly but at the same time I have done it for clients who are willing to go all the way on four different occasions in the past 30 years of practicing corporate law. It is not impossible and it can be guarded against if my requirements are strictly adhered to. If you wish to consult with me I am in the San Francisco Bay Area at 925 -- 945 -- 6000.

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Answered on 10/25/03, 2:12 pm
Sheldon G. Bardach Law Offices of Sheldon G. Bardach

Re: Legal or finanical responsibility as a representive for $10-100milion dollar

The appropriate thing to do is to enter into a contract with whichever entity is employing your services. All of these questions, and the manner in which you would want to resolve them can be provided for in such an agreement.

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Answered on 10/24/03, 7:00 pm


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