Legal Question in Business Law in New Jersey

he can not 'take them back' if he gave you the shares.

you need to talk to an attorney.

you do not want to lose all of the money, time and effort you put into it.

Barring some type of strange contract, those are your shares. Call me at 732/773/2768 to discuss. We could probably work this out without having to go to court fairly quickly

I somewhat respectfully disagree with my colleauges.

In my opinion it is unclear if you actually own the shares, unless there is something in writing to effectuate the grant and his satisfaction from your work. Assuming he had the proper authority to grant the shares to begin with. In addition, if the shares were in fact granted to you in exchange for work then there are SIGNIFICANT tax implications to you.

Anytime you deal with equity things tend to get complicated and I do agree that you should seek a lawyer to help you out. Preferably this should be a startup lawyer who is well versed in such matters as well as in the tax consequences.

Ping me offline to see how I can be of assistance.

Cheers

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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