Legal Question in Business Law in Texas

I recently went into business with a friend and he registered the company. He advised me that he registered as a corporation and we would split the shares. I signed a document stating that I had X numbers of shares, which was half of the total shares. When I recently searched for the company on state tax website, it showed that it was registered by my friend and did not have my name anywhere. How do I find out if I actually have any ownership or rights for the company?


Asked on 7/08/10, 12:53 pm

2 Answers from Attorneys
Jeffrey Brashear The Brashear Law Firm, PLLC

Based on what you have written, you might want to search the Secretary of State's information to see exactly how your friend set up the company and registered the company. Additionally, you may want to consider having a local law firm assist you with drafting the required legal documents to properly establish such a company in the State of Texas.

The above response given is not intended to create, nor does it create an on-going duty to respond to questions. Additionally, the response does not form an attorney-client relationship, nor is it intended to be anything other than an educated opinion. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change.

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Answered on 7/08/10, 4:06 pm
Kevin B. Murphy Franchise Foundations, APC

The other attorney is right on point here. Your ownership rights may not be a matter of public record. You (or your attorney) need to request a copy of the stock certificate ledger, showing who owns shares in the corporation. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 7/08/10, 4:17 pm


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