Legal Question in Business Law in Colorado
Leaving an LLC company
I have decided to leave as a member of an LLC. For payment received, I am to agree to a nondisclosure/noncompete agreement, and to transfer membership units to remaining principal. Do I need or is it advisable to have some type of release of liability for my work or past projects in the company?
Asked on 3/11/08, 10:17 am
1 Answer from Attorneys
Re: Leaving an LLC company
As a general rule, it is advisable to obtain mutual releases in any agreement to terminate an interest in an LLC.
Answered on 3/11/08, 12:05 pm
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