Legal Question in Business Law in Colorado

This guy is trying to steal half my company!

I have owned a company for a little over two years, had it registered with the state in my name, built it up myself and filed taxes in my name. Everything has been in my name. About 5 months ago I started working with a man, who I made head of my business, the main manager. I didn�t realize at the time, but he is pretty much a con artist and was constantly trying to push his way into my business, so being naive because he was doing a great job I said we could meet with his attorney and talk it over. A friend of mine and this man meet with his attorney and agreed to have some documents drafted up to review. I never received a copy of these documents to review and never signed off on anything. The man is not doing any work and has pretty much giving up on my company. I went to fire him and he came back saying he was part owner and I would have to buy him out. We never signed off on anything, he has never put any money into the company. Again the company has been in my name, I own 100% of the stock, have it all registered in my name and everything. I never signed anything giving this guy any ownership and never reviewed any documents he had written up. He is now claiming he is 50% owner and I owe him half my company.


Asked on 5/07/08, 12:06 am

1 Answer from Attorneys
Robert Murillo Pivotal Legal Ltd.

Re: This guy is trying to steal half my company!

Sorry about the problems. The only viable basis he can claim is that you two had an oral agreement (what people term a verbal agreement) where you promised him 50% of the company. It is a stretch, but it is certainly enough to make your life difficult if he decides to sue on the basis of this fictional agreement.

You need to speak with an attorney to avoid other mistakes. Next time make sure to use clear offer letters and confidentiality-assignment agreements to clearly provide that this person is an at-will employee.

Read more
Answered on 5/07/08, 8:50 am


Related Questions & Answers

More Business Law questions and answers in Colorado