Legal Question in Business Law in Indiana

Business

I worked for an individual who owned a business with approximate 400K a year revenue and over 300 established clients. He went through personal problems and let the business become a little run down. Myself and one other individual worked for him. To save our jobs, he asked a friend to ''take over'' the business. His friend did and we have ''worked under his supervision'' for the last 3 years.Our dilemma. Myself, the other person I work with and the former owner want to take the business back because we do not believe the current individual is running it properly. The ''former'' owner and new one NEVER had ANYTHING wrote up, never signed anything. The new individual simply started managing the business. We still have the same revenue and same clients which the new individual never deals with. All he does is act as a glorified accountant. Also, the former owner wrote a software program and nothing was ever signed for that as well. According to what we have read, the former owner, OWNS his source code to his software and the new individual has no legal right to it. Our question is this. What legal right do we have to take our business back and leave the new individual? Basically, can we ''take our ball and leave?''


Asked on 2/28/08, 7:47 am

1 Answer from Attorneys
Samuel Hasler Samuel Hasler

Re: Business

You can take your bat and ball go wherever you like - so long as you do not tread on Indiana's Trade Secrets Act. Your concern about the agreement between owner and new boss is a bit misplaced, in my opinion.

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Answered on 3/02/08, 2:50 pm


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