Legal Question in Business Law in Nevada

corporate

50% ownership of business w/brother. He stopped my pay and my insurance 2 days out of the hospital. I found other work, but am still on the corp as 1/2 owner. What are my rights, what can I if anything demand, and can he take me off as owner without my sig. Are there legal steps I can take to recoup some of the lost income I've had, and can I make him pay for 1/2 of the assets? i don't have a clue what my rights are.


Asked on 9/28/08, 5:34 pm

3 Answers from Attorneys

F. Gonzalez The Gonzalez Law Office

Re: corporate

As a 50% owner of a company you definitely have rights, and depending on the circumstances you may even be entitled to back-pay and you may have a claim for wrongful termination and COBRA rights.

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Answered on 9/29/08, 12:21 pm
Donald W. Hudspeth The Law Offices of Donald W. Hudspeth, P.C.

Re: corporate

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DONALD W. HUDSPETH, P.C.

A Professional Corporation

"The Business of our Firm is Business"

Dear Fifty percent owner:

The answer to your question would be based at least in part on the laws of Nevada in which we are neither licensed nor particularly knowledgeable (while general propositions may be similar, statutes and case decisions vary from state to state). And, the ethical rules of the State of Arizona where I am located require any legal representation to be done only with a signed fee agreement. Thus, the best I can do is give you some general information, as one would learn in law school, but the specific answer to your specific question would require some research and a fee agreement as well as, of course, intake of documents and information. With your consent this email exchange can serve as the agreement.

The scope of our representation will be as follows: research the laws of the state of Nevada and advise you as to your right and the fee for providing a preliminary answer to your question will be $500.00. More indepth analysis, research and representation will require a more formal, but usually only one page, agreement. If you would like to proceed, please send your confirming email to this address and contact either Thomas Gadd or Leslie Dighero to make payment. Thanks. Good luck to you.

Please feel free to contact us if you have any questions.

Thomas J. Gadd,

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Law Offices of Donald W. Hudspeth, P.C.

3030 N. Central Avenue, Suite 604

Phoenix, AZ 85012

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tele. 602.265.7997, ext. 106

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Answered on 9/30/08, 6:39 pm
James Smith James E. Smith Ltd.

Re: corporate

He cannot legally unilaterally kick you out. You can take him to Court and ask for an accounting and for 50% of the corporate assets, if any, in a dissolution. I am surprised you name is not on the corporate checking account. However, unless you take him to Court the police are not going to get involved in a business divorce.

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Answered on 9/28/08, 5:51 pm


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