Legal Question in Business Law in Illinois

Void Pre-Incorporation Contract

My partner has willfully decided to accept my request for him to leave the business at the pre-incorporation stage. We signed a pre-incorporation agreement which gave him equity stake in the company once incorporated. What do we need to put together to void this contract and prevent him from ever suing to claim ownership in the future? (Currently there are only 2 stake holders. Him and myself)


Asked on 3/20/07, 10:09 am

2 Answers from Attorneys
Noelle Ansley Noelle Ansley

Re: Void Pre-Incorporation Contract

You should speak to an attorney about drafting a document that will memorialize your mutual dissolution of the partnership and will release you and the corporation from all claims he may have. I would not recommend trying to draft this yourself.

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Answered on 3/20/07, 1:00 pm

Re: Void Pre-Incorporation Contract

You need to hire an attorney to review the preincorporation agreement in detail and then draft a document for both of you to sign that will protect you and your newcorporation from future claims

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Answered on 3/21/07, 8:50 am


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