Legal Question in Business Law in Colorado
Registration of Non-Profit Business Name
Quickly, I've run a specific semi-pro football team for the last 5 years. I brought someone on board 1/00 to help me with the team. No paperwork was signed concerning any transfer of any percentage of ownership. Immediatly, the guy went out without my knowledge and incorporated the team as a non-profit organization in his name only. I didn't find out about it until a couple of months back, but when I did, I went and did the same thing under a different company name. I also state trademarked the name and logo for the team, something he had neglected to do. Now he is running around making the claim that he owns the team. Who owns the team? Thank you!
1 Answer from Attorneys
Re: Registration of Non-Profit Business Name
Generally, while you will need to consult with an attorney, the property of the football team should remain yours. While he formed a corporation, that corporation has no assets. There may be a fight over whether assets are supposed to be transferred but you would still own the team.
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