Legal Question in Business Law in Iowa
We have an owner (49%) that resigned as an officer of the company, but still remains owner. He is now using our company's truck and is working for a competitor. Is there a lawsuit here? Is this a conflict of interest? Where is his obligation? What can be done.
Asked on 9/27/10, 2:56 pm
2 Answers from Attorneys
Robert Luedeman
solo practitioner
Without knowing what your company's structure is or whether he signed a noncompete agreement, it's impossible to say, except that this person has you over a barrel.
Who is the truck registered to? Who pays the insurance? Is it financed? Have you thought about cancelling the registration and the insurance?
Answered on 10/02/10, 8:50 pm
Stephen Lombardi
Lombardi Law Firm
Is the company a corporation? What name is on the title as an owner of the truck?
Answered on 10/03/10, 4:33 am
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